Notification No. 148/1995, Dated 19th Sept 1995

Value Based Advance Licence - issued on or after 19-9-1995 - material imported under.

19-9-1995

Notification No. 148/95-Customs

       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) applied for and issued on or after 19th September, 1995 in terms of paragraph 49 of the Export and Import Policy 1992-1997, with an obligation to export products specified in the Table annexed to this notification, 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) and from the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act, subject to the following conditions, namely .

        (i) that the materials imported are covered by a Value Based Duty Exemption Entitlement Certificate (hereinafter referred to as the said certificate), issued by the Licensing Authority in the form specified in the Schedule annexed to this notification;

        (ii) that the importer at the time of clearance of the imported materials executes a bond with such surety or security and in such form and for such sum as may be specified by the Assistant Commissioner of Customs or Deputy Commissioner of Customs binding himself to pay on demand an amount equal to the duty leviable but for the exemption on the imported materials in respect of which the conditions specified in this notification have not been complied with, together with interest at the rate of twenty-four per cent per annum from the date of clearance of the said materials.

        Provided that the bond shall not be necessary in respect of imports made after discharge of export obligation in full;

        (iii) that the said licence and the said certificate are produced before the proper officer of customs at the time of clearance for debit;

        (iv) [that the imports and exports are undertaken through sea ports at Mumbai, Calcutta, Cochin, Magdalla, Kakinada, Kandia, Manga-lore, Marmagoa, Madras, Naves Sheva, Paradeep, Pipavav, Sikka, Tuticorin, Visakhapatnam, Dahej, Nagapattinam , Okha and Mundhra or through any of the airports at Ahmedabad, Bangalore, Bhubaneshwar, Mumbai, Calcutta, Coimbatore, Delhi, Hyderabad, Jaipur, Madras, Srinagar, Trivandrum, Varanasi, Nagpur and Cochin or through any of the Inland Container Depots at Agra, Bangalore, Coimbatore, Delhi, Faridabad, Gauhati, Guntur, Hyderabad, Jaipur, Jallandhar, Kanpur, Ludhiana, Moradabad, Nagpur, Pimpri (Pune), Pitampur (Indore), Surat, Tirupur, Varanasi, Nasik, Rudrapur (Nainital), Dighi (Pune), Vadodara, Daulatabad (Wanjarwadi and Maliwada), Waluj (Aurangabad), Anaparthy (Andhra Pradesh), Salem, Malanpur, Singanalur, Jodhpur, Kota, Udaipur, Ahmedabad, Bhiwadi and Madurai or through the Land Customs Station at Ranaghat and Singhabad.

        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 sea port, airport, or Inland Container Depot or through a Land Customs Station;

        (v) that the export obligation is discharged within the period specified in the said certificate or within such extended period as may be granted by the Licensing Authority by exporting products manufactured in India which are specified in Part 'E' of the said certificate and also specified in the Table annexed to this notification (hereinafter referred to as export product) and in respect of which -

            (a) facility under rule 12(l) (b) or rule 13(l) (b) of the said rules has not been availed; and

           (b) drawback has not been claimed either under section 74 of the Customs Act, 1962 (52 of 1962) or the Customs and Central Excise Duties Drawback Rules,1995;

        (vi) that the importer produces evidence of discharge of export obligation to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs within a period of 30 days of the expiry of period allowed for fulfillment of export obligation, or within such extended period as the said Assistant Commissioner of Customs or Deputy may allow;

        (vii) exempt materials shall not be disposed of or utilized in any manner, except for utilization in discharge of export obligation, or for replenishment of such materials and the materials so replenished shall not be sold or transferred to any other person.