TMI BlogMaterial Imported against a Value Based Advance Licence, issued on or after 19th September, 1995X X X X Extracts X X X X X X X X Extracts X X X X ..... section 3 ] of the said Customs Tariff Act, subject to the following conditions, namely:- (i) that the materials imported are covered by a Value based Duty Exemption Entitlement Certificate (hereinafter referred to as the said certificate) issued by the Licensing Authority in the form specified in the Schedule annexed to this notification; (ii) that the importer at the time of clearance of the imported materials executes a bond with such surety or security and in such form and for such sum as may be specified by the Assistant Commissioner of Customs or Deputy Commissioner of Customs binding himself to pay on demand an amount equal to the duty leviable but for the exemption on the imported materials in respect of which the conditions specified in this notification have not been complied with, together with interest at the rate of fifteen per cent per annum from the date of clearance of the said materials. Provided that the bond shall not be necessary in respect of imports made after discharge of export obligation in full; (iii) that the said licence and the said certificate are produced before the proper officer of customs at the time of clearance for debit; (iv) th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny manner, except for utilisation in discharge of export obligation, or for replenishment of such materials and the materials so replenished shall not be sold or transferred to any other person. 2 [2. In a case of default in export obligation, when the duty on goods is paid to regularise the default, the amount of interest paid by the importer shall not exceed the amount of duty if such regularisation has been dealt in terms of Public Notice of the Government of India in the Ministry of Commerce No. 22 (RE-2013)/2009-2014 dated the 12 th August, 2013. ] Explanation :- In this notification, - (i) Export and Import Policy 1992-97 means the Export and Import Policy 1 April 1992-31 March, 1997 published vide Public Notice of the Government of India in the Ministry of Commerce No.1-ITC(PN)/92-97, dated the 31st March, 1992, as amended from time to time. (ii) Licensing Authority means the Director General of Foreign Trade appointed under section 6 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) or an officer authorised by him to grant a licence under the said Act; (iii) Materials means - (a) raw materials, components, intermediates ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of materials Sl.No. No. of the materials in Part C Bill of Entry No. date and Customs House of Import. Description Quantity and net weight 1. 2. 3. 4. 5. CIF Value Duty leviable but for exemption Signature of the Customs Officer with Name, Designation Seal Heading No. of the First Schedule to the Customs Tariff Act, 1975 and Heading No. in the Schedule to the Central Excise Tariff Act, 1985 for levy of Additional Duty Rate of Duty (i) Basic (ii)Additional Amount of Duty 6. 7. 8. 9. 10. (Parts E and F figure in the Export Part of this DEEC) PART -G Duties paid on materials in respect of which the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to Notification no. 148/95-Customs Quality Technical Characteristics. 1. 2. 3. 4. 5. Quantity FOB Value in Rs./US$ S. No. of the materials in Part - C 6. 7. 8. PART -F Particulars of exports Sl.No. Sl. No. of the resultant product in Part E. Name of the Customs House of Shipment Shipping Bill No. Date. Name of the Vessel and outward entry of the vessel. 1. 2. 3. 4. 5. Quantity Net weight of the export product. D ..... X X X X Extracts X X X X X X X X Extracts X X X X
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