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)]