Ship Building Outside
Customs Bond Allowed with Full BCD and CVD Exemption under Excise Supervision
Seeks to further amend notification No. 12/2012-Customs dated
17.3.2012 so as to provide exemption from custom duties 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. 54/2015-Customs dated 24
November 2015]
In exercise
of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962
(52 of 1962), 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- Customs, dated the 17th March, 2012, published
in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 185(E), dated the 17th
March, 2012, namely:-
In the said
notification, in the Table,-
(i) in serial number 469, 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 469 and the entries relating
thereto, the following serial number
and the entries shall be inserted, namely:-
|
469A |
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 |
Nil |
5 |
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Explanation.- For the
purposes of this entry, it is clarified that in the case of raw materials and
parts already imported under S.No.469 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]