Customs tariff
Amendment of section 8B.
92. In the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), in section 8B, in sub-section (6),––
(i) in clause (i), for the word “unit;”, the words “unit; or” shall be substituted;
(ii) for the Explanation, the following Explanation shall be substituted, namely:–
‘Explanation.––For the purposes of this sub-section,–
(a) the expression “hundred per cent. export-oriented undertaking” shall have the same meaning as assigned to it in clause (i) of Explanation 2 to sub-section (1) of section 3 of the Central Excise Act, 1944 (1 of 1944);
(b) the expression “special economic zone” shall have the same meaning as assigned to it in clause (za) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005).
Notes on Clauses:
Clause 92 of the Bill seeks to amend sub-section (6) of section 8B of the Customs Tariff Act to make both conditions thereunder mutually exclusive and to define the expression ‘special economic zone’ in the same manner as defined in the Special Economic Zone Act, 2005 (28 of 2005).
