CHAPTER IV
INDIRECT TAXES
Customs
Amendment of section 25.
123. In the Customs Act, 1962 (52 of 1962) (hereinafter referred to as the Customs Act), in section 25, in sub-section (4A), after the proviso, the following proviso shall be inserted, namely:––.
“Provided further that nothing contained in this subsection shall apply to any such exemption granted to, or in relation to,––
(a) any multilateral or bilateral trade agreement;
(b) obligations under international agreements, treaties, conventions or such other obligations including with respect to United Nations agencies, diplomats and international organisations;
(c) privileges of constitutional authorities;
(d) schemes under the Foreign Trade Policy;
(e) the Central Government schemes having validity of more than two years;
(f) re-imports, temporary imports, goods imported as gifts or personal baggage;
(g) any duty of customs under any law for the time being in force, including integrated tax leviable under sub-section (7) of section 3 of the Customs Tariff Act,1975 (51 of 1975), other than duty of customs leviable under section 12.”.
Notes on Clauses:
Customs
Clause 123 seeks to amend section 25 of the Customs Act by inserting a new proviso in sub-section (4A), so as to exclude certain categories of conditional exemption specified therein from the purview of the said sub-section.
