CUS NTF NO. 40/2004 DATE 26/02/2004

Amendments in the Ntf. No. 52/2003-Cus., dt. 31/03/2003 (De-bonding of Goods Imported/Procured from Warehouse)
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 erstwhile Ministry of Finance and Company Affairs (Department of Revenue), vide No. 52/2003-Customs, dated the 31st March, 2003, namely:-

In the said notification, in paragraph 4,-

(a) for the words, “to any other place in India in accordance with the Export and Import Policy:” the words, “ to any other place in India or to debond in accordance with the Export and Import Policy:” shall be substituted;

(b) in the proviso,-

(i) in clause (a), for the words beginning with “ such clearance of capital goods” and ending with “ whichever is higher,” the following words shall be substituted , namely:-

“ such clearance or debonding of capital goods, may be allowed on payment of duty on the depreciated value thereof and at the rate in force on the date of payment of such duty.”

(ii) in clause (b), for the words,“such clearance of goods”, the words “ such clearance or debonding of goods” shall be substituted;

(iii) for clause (c), the following clause shall be substituted, namely:-

“(c) such clearance or debonding of used packing materials, such as cardboard boxes, polyethylene bags of a kind unsuitable for repeated use, may be allowed without payment of duty.”

[F. No. 305/168/2003-FTT]

(V.Kezo.)
Under Secretary to the Government of India.

Note: The principal notification No. 52/2003-Cus, dated the 31st March, 2003, was issued vide G.S.R. 274 (E), dated the 31st March, 2003 and was last amended vide notification No. 31/2004-Customs dated the 28th January, 2004 vide G.S.R. 82 (E) , dated the 28th January, 2004.

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