Description:

MANUFACTURE OF THE AFORESAID ITEMSAND THEIR COMPONENTS, REQUIRED FORTHE INITIAL SETTING UP OF A UNIT, ORTHE SUBSTANTIAL EXPANSION OF ANEXISTING UNIT, OF A SPECIFIED: (1)INDUSTRIAL PLANT, (2) IRRIGATIONPROJECT, (3) POWER PROJECT,(4) MINING PROJECT, (5) PROJECT FOR THEEXPLORATION FOR OIL OR OTHERMINERALS, AND (6) SUCH OTHERPROJECTS AS THE CENTRALGOVERNMENT MAY, HAVING REGARD TOTHE ECONOMIC DEVELOPMENT OF THECOUNTRY NOTIFY IN THE OFFICIALGAZETTE IN THIS BEHALF; AND SPAREPARTS, OTHER RAW MATERIALS (INCLUDIN G SEMI-FINISHED MATERIAL) OR CONSUMABLE STORES NOTEXCEEDING 10% OF THE VALUE OF THEGOODS SPECIFIED ABOVE PROVIDEDTHAT SUCH SPARE PARTS, RAWMATERIALS OR CONSUMABLE STORESARE ESSENTIAL FOR THE MAINTENANCE OF THE PLANT OR PROJECT MENTIONED IN 1 TO 6 ABOVEAll items of machinery including prime movers, instruments, apparatus and appliances, control gear and transmission equipment, auxilliary equipment (including those required for research and development purposes, testing and quality control), as well as all components (whether finished or not) or raw materials for the manufacture of the aforesaid items and their components, required for the initial se tting up of a unit, or the substantial expansion of an existing unit, of a specified: (1) industrial plant, (2) irrigation project, (3) power project, (4) mining project, (5) project for the exploration for oil or other minerals, and (6) such other project s as the Central Government may, having regard to the economic development of the country notify in the Official Gazette in this behalf; and spare parts, other raw materials (including semi-finished material) or consumable stores not exceeding 10% of the v alue of the goods specified above provided that such spare parts, raw materials or consumable stores are essential for the maintenance of the plant or project mentioned in 1 to 6 above:Machinery:Spare parts and other raw materials (including semifinished materials) or consumable stores for the maintenance of plant or project.