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Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. - 09/2021 - Customs - Non Tariff

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..... said rules, in rule 3, - (i) after clause (a), the following clause shall be inserted, namely: - ‘(aa) “capital goods” means goods, the value of which is capitalised in the books of account of the importer;’; (ii) after clause (c), the following clause shall be inserted, namely: - ‘(ca) “job work” means any treatment, process or manufacture, consistent with the exemption notification undertaken by a person on goods belonging to the importer except gold, jewellery and articles thereof, and other precious metals or stones; and the term “job worker” shall be construed accordingly;’; (iii) for clause (e), the following clause shall be substituted, namely: - ‘(e) “manufactur .....

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Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. - 09/2021 - Customs - Non Tariff

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..... g receipt of imported goods and maintain records. - (1) The importer shall provide information of the receipt of the imported goods in the premises, where the imported goods shall be put to use for manufacture of goods or job work or for rendering output service within two days (excluding holidays, if any) of such receipt to the Jurisdictional Customs Officer. (2) The importer shall maintain an account in such manner to clearly indicate the quantity,- i. and value of goods imported; ii. of imported goods consumed; iii. of goods sent for job work, nature of job work carried out; iv. of goods received after job work; v. of goods re-exported, if any, under rule 7; and vi. remaining in stock, according to bills of entry, and shall produce the s .....

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Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. - 09/2021 - Customs - Non Tariff

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..... n sub-rules (1) and (2) to the concerned Customs Officer under whose jurisdiction the premises of the job worker is situated. (4) The importer shall send the goods to the premises of the job worker enclosing a challan, specifying the description and quantity of the goods. (5) The maximum period for which the goods can be sent to the job worker shall be six months from the date of issue of challan specified in sub-rule (4). (6) In case the importer is unable to establish that the goods sent for job work have been used as per the particulars of job work referred in sub-rule (2), the Jurisdictional Customs Officer shall take necessary action against the importer under rules 8 and 8A. (7) The job worker shall i. maintain an account of receipt o .....

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Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. - 09/2021 - Customs - Non Tariff

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..... for every quarter in the fourth and fifth year @ 2.5%; (v) and thereafter for every quarter @ 2%. Explanation. - (1) For the purpose of computing rate of depreciation for any part of a quarter, a full quarter shall be taken into account. (2) There shall be no upper limit for such depreciation. (3) The depreciation shall be allowed from the date when the imported capital goods have come into use for the purpose as specified in the exemption notification upto the date of its clearance.”. 7. In the said rules, rule 8 shall be renumbered as sub-rule (1) thereof and after rule 8 as so renumbered, the following sub-rule shall be inserted, namely: - “(2) Notwithstanding anything specified in these rules in relation to removal and proc .....

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Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. - 09/2021 - Customs - Non Tariff

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..... reexported/ cleared during the quarter Specified purpose for procuring the goods at concessional rate of duty. Goods manufactured during the quarter/Output service provided Whether the goods used for specified purpose or not and in case of export, specify the quantity exported with details of Tax Invoice/ Shipping Bill”. Value of goods received Quantity of goods received Total of column (4) and (6) Quantity consumed for the intended purpose Quantity sent to the job worker challan No. wise Quantity consumed during job work for the intended purpose Quantity received back from the job worker (challan No. wise) Quantity reexported Quantity cleared in to the domestic market Closing balance on the last day of the quarter Description Quantit .....

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Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. - 09/2021 - Customs - Non Tariff

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