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TMI Blog2008 (4) TMI 228X X X X Extracts X X X X X X X X Extracts X X X X ..... o power to issue policy to achieve the objectives of the said Act. Sections 3 and 5 of the Act are reproduced as under:- "Section 3. Power to make provisions relating to imports and exports :- (1) The Central Government may, by Order published in the official Gazette, make provision for the development and regulation and foreign trade by facilitating imports and increasing exports. (2) The Central Government may also, by Order published in the official Gazette, make provision for prohibiting, restricting or otherwise regulating, in all cases or in specified classes of cases and subject to such exceptions, if any, as may be made by or under the Order, the import or export of goods. (3) All goods to which any Order under sub section (2) applies shall be deemed to be goods the import or export of which has been prohibited under section 11 of the Customs Act, 1962 (52 of 1962) and all the provisions of that Act shall have effect accordingly. Section 5. Export and Import Policy : The Central Government may from time to time, formulate and announce by notification in the Official Gazette, the export and import policy and may also, in like manner, amend that policy." 2. In terms of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rcentage of the value of the imported materials used in the manufacture or processing of such goods or carrying out any operation on such goods or class of goods as the Central Government may, by notification in the Official Gazette, specify in this behalf : Provided further that where any drawback has been allowed on any goods under this sub section and the sale proceeds in respect of such goods are not received by or on behalf of the exporter in India within the time allowed under the Foreign Exchange Management Act, 1999 (42 of 1999), such drawback shall be deemed never to have been allowed and the Central Government may, by rules made under sub-section (2), specify the procedure for the recovery or adjustment of the amount of such drawback. (1A) Where it appears to the Central Government that the quantity of a particular material imported into India is more than the total quantity of like material that has been used in the goods manufactured, processed or on which any operation has been carried out in India and exported outside India, then, the Central Government may, by notification in the Official Gazette, declare that so much of the material as is contained in the goods ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duty and tariff valuation, if any applicableto any imported goods, shall be the rate and valuation inforce,- "(a) In the case of goods entered for home consumption under Section 46, on the date on which a bill of entry in respect of such goods is presented under that section; (b) In the case of goods cleared from a warehouse under Section 68, on the date on which a bill of entry for home consumption in respect of such goods is presented under that section; (c) In the case of any other goods, on the date of payment of duty : Provided that if a bill of entry has been presented before the date of entry inwards of the vessel or the arrival of the aircraft by which the goods are imported, the bill of entry shall be deemed to have been presented on the date of such entry inwards or the arrival, as the case may be. (2) The provisions of this section shall not apply to baggage and goods imported by post." 5. As per the averments made in the writ petition, the petitioner wanted to export his refined oil and import crude oil against advance authorization scheme of Foreign Trade Policy. As per Advance authorization Scheme, raw material can be imported without payment of duty with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and since as per the notification dated 17.3.2008, the petitioner cannot export refined oil, therefore, he is bound to suffer irreparable heavy loss and cannot survive. Thus, the petitioner has prayed either to allow him to clear crude olive oil without payment of duty or export refined oil under drawback scheme. 7. We have heard Shri Jagmohan Bansal, Advocate, learned counsel for the petitioner, and find no force in the contentions raised by him. From the perusal of the averments made in the writ petition, it is crystal clear that under the provisions of the Act, the Government is competent to issue the notifications dated 17.3.2008 and 1.4.2008. It is further clear that these notifications have been admittedly issued to check the increase in prices of oil in India. The only objection raised by the petitioner in the writ petition is that he was given No Objection Certificate for refining imported crude oil for the purpose of re-exporting 150 MT refined pomace olive oil from the Directorate of Vanaspati, Vegetable Oils & Fats. On the basis of this No Due Certificate, he placed an order to import the crude oil which is lying at the Ludhiana Port and for which he has filled a bill o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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