Amendments in Notification No. 157/1990-Customs, dated the 28th March, 1990 - 58/2016 - Customs -Tariff

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 58/2016-Customs New Delhi, the 5th October, 2016 G.S.R. 956 (E).- 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 notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 157/1990-Customs, dated the 28th March, 1990 published in the Gazette of India, Extraordinary, vide number G.S.R. 405 (E), dated the 28th March, 1990 (hereinafter referred to as the said notification), namely:- 2. In the said notification, in the first paragraph, - (a) in the opening portion, the words or Schedule III shall be omitted; (b) condition (1) shall be omitted; (c) condition (5) shall be omitted. 3. After the first paragraph, the following shall be inserted, namely:- 1A. In the event of failure to export the goods within the period specified in condition (4) of paragraph 1, the Federation and the importer shall, jointly and severally be liable to pay the duties of customs leviable on the goods as on the date of import, along with applicable interest: Provided that the liability of the Federation shall not exceed the amount of the duties of customs by more than ten per cent: Provided further that the Federation shall not be liable to pay the customs duty in cases where the said goods are sold in exhibitions or fairs or otherwise disposed of in India in accordance with any law for the time being in force applicable to such goods and on payment of the duties of customs which are payable as on the date of import in respect of such goods, along with applicable interest. 4. In Schedule II, - (a) in serial number 5, for the words, an official of , the words an official or shall be substituted; (b) after serial number 5, the following serial numbers shall be inserted:- 6. Display or demonstration before any Department of the Central Government or a State Government or a Union territory Administration. 7. Meeting, conference or congress, by whatever name called, organised by any company or organisation. 5. In the said notification, Schedule III and the entries relating thereto shall be omitted. [ F. No.18000/1/2015- OSD (ICD)] (Kshitendra Verma) Under Secretary to the Government of India Note: The principal notification No.157/1990-Customs, dated the 28th March, 1990, was published in the Gazette of India, Extraordinary, vide G.S.R. 405(E), dated the 28th March, 1990 and was last amended by notification No.55/2007-Customs, dated the 12th April, 2007, published vide G.S.R. 287(E), dated the 12th April, 2007.