TMI BlogImplementation of Advance Authorisation Scheme under Foreign Trade Policy, 2023 - Exempts materials required for the manufacture of the final goods when imported into India, from whole of the duty of customs leviable thereon.X X X X Extracts X X X X X X X X Extracts X X X X ..... a valid Advance Authorisation issued by the Regional Authority in terms of paragraph 4.03 of the Foreign Trade Policy (hereinafter referred to as the said authorisation) from the whole of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and from the whole of the additional duty, leviable thereon under sub-sections (1), (3) and (5) of section 3 , integrated tax leviable thereon under sub-section (7) of section 3, goods and services tax compensation cess leviable thereon under sub-section (9) of section 3 , safeguard duty leviable thereon under section 8B , countervailing duty leviable thereon under section 9 and anti-dumping duty leviable thereon under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nding himself to pay on demand an amount equal to the duty leviable, but for the exemption contained herein, on the imported materials in respect of which the conditions specified in this notification are not complied with, together with interest at the rate of fifteen per cent per annum from the date of clearance of the said materials; (v) that in respect of imports made after the discharge of export obligation in full, if facility under rule 18 (rebate of duty paid on materials used in the manufacture of resultant product) or sub-rule (2) of rule 19 of the Central Excise Rules, 2017 or of CENVAT Credit under CENVAT Credit Rules, 2017 has been availed, then the importer shall, at the time of clearance of the imported materials f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e after the discharge of exports obligation in full, if facility of input tax credit under relevant Goods and Service Tax law on inputs used for manufacturer and supply of goods exported has been availed, then the importer shall, at the time of clearance of the imported materials, furnish a bond to the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, binding himself, to use the imported materials in his factory or in the factory of his supporting manufacturer for the manufacture and supply of taxable goods (other than nil rated or fully exempt supplies) and to submit a certificate from a chartered accountant within six months from the date of clearance of the said materials, that the imported material ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her seaport, airport, inland container depot or through a land customs station within his jurisdiction; (x) that the export obligation as specified in the said authorisation (both in value and quantity terms) is discharged within the period specified in the said authorisation or within such extended period as may be granted by the Regional Authority by exporting resultant products, manufactured in India which are specified in the said authorisation: Provided that an Advance Intermediate authorisation holder shall discharge export obligation by supplying the resultant products to exporter in terms of paragraph 4.05(c)(ii) of the Foreign Trade Policy; Provided further that notwithstanding anything contained hereinabove for the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tly by the merchant exporter and the supporting manufacturer binding themselves jointly and severally to comply with the conditions specified in this notification. 2. Where the materials are found defective or unfit for use, the said materials may be re-exported back to the foreign supplier within six months from the date of clearance of the said material or such extended period not exceeding a further period of six months as the Commissioner of Customs may allow: Provided that at the time of re-export the materials are identified to the satisfaction of the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, as the materials which were imported. Explanation, - For the purposes of this notifica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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