24th April, 2002
Notification No. 49 /2002-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 makes the following further amendments 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. | GSR 481(E), dated the 5th June 1995 111/95-Customs, dated the 5th June, 1995 | In the said notification, in paragraph 2, -
"Provided that where the CIF value of licence is not less than Rs.100crores, the export obligation shall be fulfilled within a period of 12 years from the date of issue of licence in the following proportions, namely: - S.No. Period from the date of issue Proportion of Total Of Licence Export Obligation (1) (2) (3) 1. Block of 1st, 2nd, 3rd, 4th and 5th Year Nil 2. Block of 6th 7th and 8th Year 15% 3. Block of 9th and 10th Year 35% 4. Block of 11th and 12th Year 50%: Provided further that export obligation of a particular block may be set off by the excess exports made in the said preceding block(s)";
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2. | GSR 184(E), dated the 1st April, 1997 28/97-Customs dated the 1stApril 1997 | In the said notification, for condition (6), the following condition shall be substituted, namely: -
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3. | GSR 185(E), dated the 1st April, 1997 29/97-Customs, dated the 1stApril, 1997 | In the said notification, in paragraph 2, -
"Provided that where the CIF value of licence is not less than Rs.100crores, the export obligation shall be fulfilled within a period of 12 years from the date of issue of licence in the following proportions, namely: - S.No. Period from the date of issue Proportion of Total Of Licence Export Obligation (1) (2) (3) 1. Block of 1st, 2nd, 3rd, 4th and 5th Year Nil 2. Block of 6th 7th and 8th Year 15% 3. Block of 9th and 10th Year 35% 4. Block of 11th and 12th Year 50%: Provided further that export obligation of a particular block may be set off by the excess export made in the said preceding block(s): Provided also that.";
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4. | GSR 365(E), dated the 27th April, 2000 49/2000-Customs, dated the 27th April, 2000 | In the said notification, in paragraph 2, -
for the proviso, the following provisos shall be substituted, namely:- "Provided that where the CIF value of licence is not less than Rs.100crores, the export obligation shall be fulfilled within a period of 12 years from the date of issue of licence in the following proportions, namely: - S.No. Period from the date of issue Proportion of Total Of Licence Export Obligation (1) (2) (3) 1. Block of 1st, 2nd, 3rd, 4th and 5th Year Nil 2. Block of 6th 7th and 8th Year 15% 3. Block of 9th and 10th Year 35% 4. Block of 11th and 12th Year 50%: Provided further that export obligation of a particular block may be set off by the excess export made in the said preceding block(s).";
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Alok Jha
Under Secretary to the Government of India
F.No. 605/201/2001-DBK
Note: The principal notification No. 111/95–Customs, dated the 5th June, 1995 was published in the Gazette of India, Extraordinary vide G.S.R. No. 481(E), dated the 5th June, 1995 and was lastly amended by notification No. 52/2000-Customs, dated, the 28th April, 2000 vide GSR No. 370(E), dated, the 28th April, 2000. The principal notification No. 28/97-Cusotms, dated, the 1st April, 1997 was published in the Gazette of India, Extraordinary vide GSR No. 84 (E), dated, the 1st April, 1997 and was lastly amended by notification No.52/2000-Customs, dated, the 28th April, 2000 vide GSR No. 370(E), dated, the 28th April, 2000. The principal notification No. 29/97-Cusotms, dated, the 1st April, 1997 was published in the Gazette of India, Extraordinary vide GSR No. 185 (E), dated, the 1st April, 1997 and was lastly amended by notification No.58/2001-Customs, dated, the 30th May, 2001 vide GSR No. 399(E), dated, the 30th May, 2001. The principal notification No. 49/97-Cusotms, dated, the 27th April, 2000 was published in the Gazette of India, Extraordinary vide GSR No. 365 (E), dated, the 27 April.
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