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CUSTOMS (IMPORT OF GOODS AT CONCESSIONAL RATE OF DUTY) RULES, 2017

Customs - Import - Export - SEZ - By: - Mr. M. GOVINDARAJAN - Dated:- 15-7-2017 Last Replied Date:- 30-8-2017 - Introduction The Central Government, in exercise of the powers conferred by Section156 of the Customs Act, 1962 and in supersession of the Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2016 made the vide notification No.68/2017-Customs (NT), dated 3.06.2017. These Rules came into effect from 01.07.2017. Applicability of the Rules Rule .....

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provides that if the Central Government is satisfied that it is necessary in the public interest so to do, it may, by notification in the Official Gazette, exempt generally either absolutely or subject to such conditions (to be fulfilled before or after clearance) as may be specified in the notification goods of any specified description from the whole or any part of duty of customs leviable thereon. Information about intent to avail benefit of exemption notification Rule 4 provides that an impo .....

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e of goods or providing an output service. Rule 5(1) provides that the importer shall furnish the following information- in duplicate to the Deputy Commissioner/Assistant Commissioner of Customs having jurisdiction,- the estimated quantity and value of the goods to be imported; particulars of the exemption notification applicable on such import; the port of import in respect of a particular consignment for a period of not exceeding one year; and in one set to the Deputy Commissioner/Assistant Co .....

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otification issued under section 28AA of the Customs Act, for the period starting from the date of importation of the goods on which the exemption was availed and ending with the date of actual payment of the entire amount of the difference of duty that he is liable to pay. Allowing exemption Rule 5(3) provides that the Deputy Commissioner/Assistant Commissioner of Customs having jurisdiction shall forward one copy of the information received by him from the importer, to the Deputy Commissioner/ .....

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ds shall be put to use for manufacture within two days (excluding holidays, if any) of such receipt to the jurisdiction customs officer. The importer shall maintain an account in such manner so as to clearly indicate- the quantity and value of goods imported; the quantity o imported goods consumed in accordance with the provisions of exemption notification; the quantity of goods re-exported, if any; the quantity remaining in stock bill of entry wise. The importer shall produce the said account a .....

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quarter; Details of goods imported during the year- Value of the goods received during the quarter; Quantity of goods received during the quarter; Total of opening balance + quantity of goods received during the quarter; Quantity consumed for the intended purpose, during the quarter; Quantity re-exported during the quarter; Quantity cleared in to the domestic market during the quarter; Closing balance on the last day of the quarter; Specified purpose for procuring the goods at concessional rate .....

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export shall not be less than the value of the said goods at the time of import. The importer may also clear the unutilized or defective imported goods with the permission of the Deputy Commissioner/Assistant Commissioner of Customs having jurisdiction within a period of six months from the date of import of duty equal to the difference between the duty leviable on such goods but for the exemption availed and that already paid, if any, at the time of importation, along with interest at the rate .....

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