CUSTOMS NOTIFICATION No. 60/2001 Dated 30/05/2001

Amendment to Notification No-50/00 in relation to provisions of Advance Licence for Deemed Exports

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 makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.50/2000-Customs dated 27th April, 2000, namely, -

In the said notification,-

1. for condition (1), the following condition shall be substituted , namely,-
   
   “(1) that the importer has been granted Advance Licence for deemed exports in terms of paragraph 7.3 (c) of the Export and Import Policy or Annual Advance Licence for Deemed Exports in terms of paragraph 7.2 of the Export and Import Policy 1997-2002, notified by the Government of India in the Ministry of Commerce, vide notification No. 1(RE00)/1997-2002 dated the 31st March, 2001, as the case may be, (hereinafter referred to as the said licence) by the Licensing Authority for import of the said materials for the aforesaid purpose, and the said licence is produced by the importer at the time of clearance for by the proper officer of Customs;”
   
   
2. in the Explanation, in clause (iii), for sub-clause (g), the following sub-clause shall be substituted namely;-
   
   “(g) supply of goods to power and refinery projects not covered in (f) above”.

Sd/-
N.K. Sinha
Under Secretary to the Government of India

Note: Notification No.50/2000-Cus dt. 27th April, 2000 was last amended by Notification No.140/2000-Cus dt.14th November, 2000.

Presented by eximkey.com