Date: 2015-02-16Category: Extra OrdinaryState: Union GovernmentCountry: India
The Central Govt, being satisfied that it is necessary in the public interest so to do, hereby exempts Urea, falling under tariff item 3102 10 00 of the First Schedule to the Customs Tariff Act, 1975.
Executive Summary:
This notification, issued by the Department of Revenue on February 16, 2015, exempts Urea imports from certain customs duties when imported under the Urea Offtake Agreement (UOTA) between the Government of India and Oman India Fertilizer Company S.A.O.C. The exemption is subject to specific conditions and aims to support public interest. It references agreements made on May 29, 2002.
Key Points / Main Content:
Customs Duty Exemption for Urea:
* Urea, classified under tariff item 3102 10 00 of the Customs Tariff Act, is eligible for customs duty exemption.
* Additional duties under subsection 1 of Section 3 of the Customs Tariff Act are also partially exempted.
Conditions for Exemption:
* The exemption applies to Urea imported under the Urea Offtake Agreement (UOTA) dated May 29, 2002, between the Government of India and Oman India Fertilizer Company S.A.O.C., as amended.
* The exemption is limited to the amount calculated on the declared value of Urea as agreed under the UOTA.
Importer's Responsibility:
* The importer must provide a certificate to the Assistant Commissioner of Customs or Deputy Commissioner of Customs before clearing the goods.
* The certificate must be issued by an officer not below the rank of Under Secretary to the Government of India in the Department of Fertilizer.
* The certificate must confirm that the declared value aligns with the agreed price under the UOTA.
Impact Analysis:
Government of India (Department of Fertilizer):
Impact: The Department of Fertilizer is responsible for issuing certificates verifying the declared value of Urea imports under the UOTA.
Action Required: Under Secretary or higher-ranked officers must provide certificates to importers confirming the declared value aligns with the agreed price under UOTA.
Importers of Urea:
Impact: Benefit from customs duty exemptions on Urea imports under the UOTA, provided they meet the specified conditions.
Action Required: Must obtain a certificate from the Department of Fertilizer and present it to the Customs authorities before clearing the imported Urea.
Customs Authorities:
Impact: Required to process Urea imports under the UOTA based on the provided certificate and relevant regulations.
Action Required: Assistant or Deputy Commissioners of Customs must verify the certificate provided by the importer before granting the customs duty exemption.
Key Entities Referenced
Customs Act, 1962: A law related to customs duties and regulations in India.
Customs Tariff Act, 1975: A law that specifies the tariff rates applicable to goods imported into India.
Urea: A nitrogen-rich chemical compound used as a fertilizer, subject to import duties and exemptions as specified in the notification.
Oman India Fertilizer Company S.A.O.C.: A company involved in the production and supply of urea to India.
Urea Offtake Agreement: An agreement dated 29th May, 2002 between the Government of India and Oman India Fertilizer Company S.A.O.C. governing the import of urea into India.
Department of Revenue: The department of the Ministry of Finance responsible for matters relating to revenue.
Ministry of Finance: A ministry of the Government of India responsible for financial matters.
Department of Fertilizer: A department of the Government of India responsible for overseeing the fertilizer industry.
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811 GI/2015 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 16th February, 2015
No. 04/2015-CUSTOMS
G. S. R. 99 (E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52
of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts Urea,
falling under tariff item 3102 10 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to
as the Customs Tariff Act) when imported into India under the Urea Off-take Agreement (hereinafter referred to as UOTA)
dated 29th May, 2002, as amended from time to time, between the Government of India and Oman-India Fertilizer Company
S.A.O.C., from so much of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff
Act, and from the so much of the additional duty leviable thereon under sub-section (1) of Section 3 of the Customs Tariff
Act, as is in excess of the amount calculated on the declared value of Urea as agreed under the UOTA, subject to the
condition that the importer shall produce, prior to clearance of the said goods, before the Assistant Commissioner of
Customs or Deputy Commissioner of Customs having jurisdiction, as the case may be, a certificate from an officer not below
the rank of Under Secretary to the Government of India in the Department of Fertilizer to the effect that such declared value
is in terms of agreed price under UOTA ..
[F.No.354/355/20l4-TRU]
AKSHAY JOSHI, Under Secy.
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.