CUS NTF NO. 54/2015 DATE 24/11/2015
Provide exemption from custom duties on all raw material and parts for use in manufacture of certain specified ships/vessels subject to actual user condition and also removing the requirement of manufacturing of ships/vessels in a custom bonded warehouse under the provisions of Section 65 of the Customs Act, 1962 for availing duty benefits
G.S.R. (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, on 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. 12/2012- Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 185(E), dated the 17th March, 2012, namely:-
In the said notification, in the Table,-
(i) in serial number 469, in column (3), the following Explanation shall be inserted, namely:-
Explanation.- Nothing contained in this exemption shall have effect on or after the 24th day of November, 2015.;
(ii) after serial number 469 and the entries relating thereto, the following serial number and the entries shall be inserted, namely:-
|
469A |
Any Chapter |
Raw materials and parts, for use in the manufacture of goods falling under heading/tariff item 8901, 8902, 8904 00 00, 8905 (except tariff item 8905 20 00) or 8906
Explanation.- For the purposes of this entry, it is clarified that in the case of raw materials and parts already imported under S.No.469 above and lying unutilized,-
i. the unit will furnish a separate bond to the jurisdictional Deputy Commissioner of Central Excise or the Assistant Commissioner of Central Excise, as the case may be, giving details of such goods and also undertake to utilize the same for manufacture of goods falling under heading/tariff item 8901, 8902, 8904 00 00, 8905 (except tariff item 8905 20 00) or 8906; and
ii. in the event of failure to use such goods for the specified purpose, the unit shall pay on demand, an amount equal to the duty payable on such goods but for the exemption under this notification. |
Nil |
Nil |
5; |
[F.No. 354/166/2014-TRU]
(K. Kalimuthu)
Under Secretary to the Government of India
Note.- The principal notification No. 12/2012-Customs, dated the 17th March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 185(E), dated the 17th March, 2012 and was last amended vide notification No. 52/2015-Customs, dated the 20th November, 2015, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 892 (E), dated the 20th November, 2015.
Presented by eximkey.com