CUS NTF NO. 56/1999 DATE 11/05/1999
Import under EPCG Scheme — Amendment to Notification Nos. 110/95-Cus., 111/95-Cus., 28/97-Cus. and 29/97-Cus.
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 amendment in the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below in the corresponding manner as specified in column (3) of the said Table, namely :-
TABLE
| Sl. No. | Notification No. and date | Amendment |
|---|
| (1) | (2) | (3) |
|---|
| 1. | 110/95-Customs,dated, the 5th June, 1995 |
For condition (7) of the said notification, the following condition shall be substituted, namely:-
"(7) Notwithstanding anything contained in condition (3) and (4), where the Licensing Authority grants an extension of yearwise period or overall period of fulfillment of export obligation, or regularisation of shortfall, in export obligation, not exceeding 5% of such export obligation, the said yearwise period or overall period of export obligation be condoned by the Assistant Commissioner of Customs:
Provided that extension of yearwise period
of export obligation shall not be allowed more than once and more than a period of one year within a period of five years". |
| (2) | 111/95-Customs, dated the 5th June,1995 |
In paragraph 2 of the said notification, for condition (8) of the notification, the following condition shall be substituted, namely:-
"(8) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of block-wise period of overall period of fulfillment of export obligation or regularisation of shortfall, in
export obligation, not exceeding 5% of such export obligation, the said block-wise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs:
Provided that extension of blockwise period of export obligation shall not be allowed for more than one block of two years:
Provided further that extension of blockwise period of export obligation for the fourth block
of two years shall not be allowed for a period of more than one year." |
| (3) | 28/97-Customs,dated the 1st April, 1997 |
For condition (6) of the said notification, the following condition shall be substituted, namely:-
"(6) Nothwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of year-wise period or overall period of fulfillment of export obligation or regularisation of shortfall, in export obligation not exceeding 5% of such export obligation. The said yearwise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner
of Customs:
Provided that extension of yearwise period of export obligation shall not be allowed more than once and more than a period of one year within a period of five years." |
| (4) | 29/97-Customs,dated, the 1st April, 1997 | In paragraph 2 of the said notification, for condition (7) of the notification, the following condition shall be substituted, namely:-
"(7) Nothwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of block-wise period or overall period of fulfillment of export obligation or
regularisation of shortfall, in export obligation, not exceeding 5% of such export obligation, the said blockwise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs:
Provided that extension of blockwise period of export obligation shall not be allowed more than one block of two years:
Provided further that extension of blockwise period of export obligation for the fourth block
of two years shall not be allowed for more than a period of one year." |
Sd/-
(Sandeep Ahuja)
Under Secretary to the Government of India"
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