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Notification No. 241-Cus; dated 4-11-1982
Re-imported goods - exported under contract approval by RBI
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 of 1962), the Central
Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in column
(1) of the Table annexed hereto, from the payment of so much of the customs duty leviable thereon as is specified in column (3)
of the said Table, subject to the limitations and conditions specified in column (2) thereof, namely:-
TABLE
Goods Limitations and Conditions Extent of Exemption
(1) (2) (3)
Goods not produced or manufactured in
India and on which the duty of customs
leviable has been paid at the time of
their importation into India and which
are exported out of India for the
execution of a contract approved by the
Reserve Bank of India in connection
with any commercial and industrial
(including constructional) activities.
Provided that the proper officer of Customs
is satisfied (1) as to the identity of the
goods;(2) that no drawback of duty was
claimed or paid on their export out of India
prior to their present importation; (3) that
the project has a specific approval of the
Reserve Bank of mdia;(4) that the
ownership of the goods has not changed
between the time of export and re-import.
(i) In the case of goods on which any
alterations, renovations, additions or
repairs have been executed subsequent
to their ex port, so much of the duty of
customs as is in excess of the duty of
customs which would be leviable if the
value of the goods were equal to the cost
of such alterations, renovations, additions
or repairs while the goods were abroad;
(ii) in other cases, the whole of the duty of
customs leviable thereon under the First
Schedule to the Customs Tariff Act, 1975
(51 of 1975) and the whole of the
additional duty leviable thereon under
section 3 of the said Customs Tariff Act,
1975.
Notification No. 241-Cus; dated 4-11-1982 as amended by Notification No. 101/83-Cus., dated 5-4-1983.
notifications no 241 82 cus | iKargos