Furnishing Bank Guarantee or
Cash Deposit not required for Temporary Import of Aircrafts for Aero Show
Participation
[Notification No. 4 /2019- Customs dated 7 February 2019]
Seeks to further amend
Notification No. 08/2016- customs dated the 5th February 2016 to allow
temporary importation of aircrafts, for the purposes of participation in Aero
Show organised by the Central Government, without
furnishing a bank guarantee or cash deposit.
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.8/2016- customs dated the 5th February 2016, published in the
Gazette of India, Extraordinary vide number G.S.R. 147(E) dated the 5th
February, 2016, namely:-
In the said notification, in condition (2), after the proviso, the following proviso shall be inserted, namely,-
“Provided further
that in the case of temporary importation of aircrafts, for the purposes of
participation in Aero Show organised by the Central
Government, the importer shall not be required to furnish a bank guarantee or
cash deposit.’’.
F.No.18000/2015 –OSD (ICD)]