Ship Building Outside
Customs Bond Allowed with Full CVD Exemption under Excise Supervision
Seeks to further amend notification No. 12/2012-CE
dated 17.3.2012 so as to provide exemption from excise duty on all raw material
and parts for use in manufacture of certain specified ships/vessels subject to actual
user condition and also removing the requirement of manufacturing of ships/vessels
in a custom bonded warehouse under the provisions of Section 65 of the Customs Act,
1962 for availing duty benefits.
[Ref: Notification No. 44/2015-Central
Excise 24.11.2015]
In exercise
of the powers conferred by sub-section (1) of section 5A of the Central Excise Act,
1944 (1 of 1944), the Central Government, on being satisfied that it is necessary
in the public interest so to do, hereby makes the following further amendments in
the notification of the Government of India, in the Ministry of Finance (Department
of Revenue), No. 12/2012-Central Excise, dated the 17thMarch, 2012, published
in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 163(E), dated the 17thMarch,
2012, namely:-
In the said
notification, in the Table,-
(i)
in serial number 306B, in column (3), the following
Explanation shall be inserted, namely:-
Explanation.- Nothing contained in this exemption shall have effect on or after
the 24th day of November, 2015.
(ii)
after serial number 306B and
the entries relating thereto, the following serial number and the entries shall
be inserted, namely:-
|
306C |
Any Chapter |
Raw materials and parts, for use in the manufacture of goods falling
under heading/tariff item 8901, 8902, 8904 00 00, 8905 (except tariff item 8905
20 00) or 8906 |
Nil |
2 and 3 |
|
|
|
Explanation.- For the
purposes of this entry, it is clarified that in the case of steel already procured under Sl.No.306B above
and lying unutilized,- |
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|
|
|
|
i.
the unit will furnish a separate
bond to the jurisdictional Deputy Commissioner of Central Excise or the Assistant
Commissioner of Central Excise, as the case may be, giving details of such goods and also undertake to utilize the same
for manufacture of goods falling under heading/tariff item 8901, 8902, 8904 00
00, 8905 (except tariff item 8905 20 00) or 8906; and |
|
|
|
|
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ii.
in the event of failure to use such goods for the specified purpose, the unit shall
pay on demand, an amount equal to the duty payable on such goods but for the exemption under this notification. |
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[F.No. 354/166/2014-TRU]