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 exempts materials imported into India, against a Value Based Advance Licence (hereinafter referred to as the said licence) issued on or after 1st April, 1995 in terms of paragraph 49 of the Export and Import Policy 1 April, 1992-31 March, 1997 from the whole of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) subject to the following conditions, namely :-
 

Cus Ntf. No.122/2001 Date 3/12/2001.)

(Above amendment has been made vide Ntf. No.30/2001, dated 12th March, 2001.)

(Sr. No. iv has been amended vide Customs Notification No.120/2000, dt. 15-9-2000)

Provided that the Commissioner of Customs, may by Special Order and subject to such conditions as may be specified by him, permit import and export through any other Seaport, Airport, or Inland Container Depot or through the Land Customs Station.

(Sr. No. iv has been substituted vide Corrigendum G. S. R. 465 (E)

(Condition No. (iv) has been substituted vide Customs NTF No. 49/99 Dt. 29-4-99)

v. that the export obligation is discharged, within the period specified in the said certificates or within such extended period as may be granted by the Licensing Authority, by exporting goods manufactured in India and the importer produces the said certificate together with evidence of discharge f export obligation to the satisafaction of the Assistant Commissioner of Customs within a period of 30 days of the expiry of period allowed for fulfilment of export obligation or within such extended period as the said Assistant commissioner of Customs may allow,

vi. exempt materials shall not be disposed of or utilised in any manner, except for utilisation in discharge of export obligation, before the export obligation under the said licence has been discharged in full.

Provided that Acetic Anhydride, Ephedrine, Pseudoephedrine, Vitamins, Pen-G and their derivatives in respect of which the benefit of this notification is claimed shall be utilised by the importer in his own factory or in the factory of any other manufacturer indicated in the said certificate even after discharge of export obligation.

vii. where benefit of the notification is sought by a person other than the licenee, such benefit shall be allowed against the said licence and the said certificate only if it bears endorsement of transferability by the Licensing Authority;

Provided that benefit of this notification shall not be allowed to a transferee of licence for import of Acetic Anhydride, Ephedrine and Pseudophedrine.

viii. Notwithstanding anything contained in conditions (vi) and (vii), above, the endorsement of transferability of disposal of materials shall be allowed in respect of licences issued for the export of all kinds of writing instruments (including gift sets and refills/nibs) on fulfilment of export obligation only in favour of manufacturer of writing instruments.

2. In a case of default in export obligation, when the duty on goods is paid to regularise the default, the amount of interest paid by the importer shall not exceed the amount of duty if such regularisation has been dealt in terms of Public Notice of the Government of India in the Ministry of Commerce No. 22 (RE-2013)/2009-2014 dated the 12th August, 2013.

[In the notification paragraph 2 has been inserted vide CUS NTF NO. 46/2013 DATE 26/09/2013]

Explanations:- In this notification-
 

i. "Export and Import Policy 1 April 1992 - 31 March 1997" means the Export and Import Policy 1 April 1992 - 31 March 1997 (Revised Edition: March 1995) published vide Notification of the Government of India in the Ministry of Commerce No. 1 (RE-95)/92-97 dated the 31st March, 1995.

ii. "Licensing Authority" means the Director General of Foreign Trade appointed under section 6 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) or an officer authorised by him to grant a licence under the said Act;

iii. "materials" means,-
1.  
   a. raw materials, components, intermediates, consumables, computer software and parts required for manufacture of export product specified in Part `E" of the said certificate (hereinafter in this Explanation, referred to as the export product):
   
   Provided that in the case of electronic goods and all kinds of writing instruments (including gift sets and refills / nibs), all exports items covered by one serial number of the Standard Input Output and Value Addition norms as contained in Handbook of Procedures, 1992-97, Volume II, published, vide Public Notice No. 121 (PN)/92-97, dated the 31st March, 1993, of the Government of India in the Ministry of Commerce, shall be deemed to be single export product.
   
   Provided further that he benefit of this notification shall apply to import Acetic Anhydride only against licences, together with the quantity required for manufacture of the export product mentioned therein, issued with the approval of Advance Licensing Committee in the office of the Director General of Foreign Trade;
   
   b. mandatory spares, within a value limit of 5% of the value of the licence, which are required to be exported along with the export product; and
   
   c. packaging materials required for packing of export product.

(The consists of ..................... pages)
Sl.No. .................(IMP) Date of issue ............
Port of Registration
Issued to

........................ (name and full address of the licensee)
........................
Materials imported against Licence No. ................... dated .................. issued by ................... to the above importer and covered by the list of materials specified in list (a) of Port `C" of this Certificate would be eligible for exemption from Basic Customs duty subject to the conditions specified in the notification of the Government of India, Ministry of Finance, Department of Revenue No.79/95-Customs, dated the 31st March, 1995.

The importer shall make the exports in terms of the said Notification within ............................ months from the date of issue of licence.

A Bond in terms of the said Notification, shall be executed before clearance of the goods from the customs.

Signature-----------------------

Seal of licensing Authority--------------

date--------------------------

Names and addresses of the factories where the resultant product for export are manufactured
 

Names and address of factories where the ancillaries to the resultant products for export are manufactured
 

(a) Items of be Imported Under this Certificate
 

Total value =

(b) Other imported items to be used in export product
 

(This consists of ........... pages)
Sl.No. ............... (EXP) Date of Issue ...........
Port of Registration .................................
Issued to

.............................. (name and address of the licensee)
..............................
..............................
Materials imported against Licence No ............ dated ............. issued by .................. to above importer and covered by the list of materials specified in list(a) of Part `C" of this certificate would be eligible for exemption from Basic Customs duty subject to the conditions specified in the notification of the Government of India, Ministry of Finance, Department of Revenue No.79/95-Customs dated the 31st March, 1995.

The Importer shall make the exports in terms of the said notification within .................... months from the date of issue of licence.

A Bond in terms of the said notification, shall be executed before clearance of the goods from the Customs.
 

Signature ------------------------------
Seal of licensing authority--------------
date------------------

Names and address of the factories where the resultant products for export are manufactured
 

Names and addresses of factories where the ancillaries to the resulltant products for export are manufactured.
 

STATEMENT OF IMPORTS AND EXPORTS MADE

Details of Imports made

Details of Exports made
 

1. I / We hereby declare that information given in this statement is correct
 

Signature -------------------------
Name of the signatory -------------
Designation -----------------------
Full address ----------------------

I have examined the applicant firm`s actual imports and exports as given above and find them as correct.
 

Signature -------------------------
Seal ------------------------------
Membership No. --------------------

We have discharged the prescribed export obligation. We request that the licence and the DEEC may please be made transferable.
 

Signature -------------------------
Name of the signatory -------------
Designation -----------------------
Full address ----------------------

DEEC is made transferable
 

Signature -------------------------
Seal of licensing authority---------------
date --------------------