[TO
BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,
SUB-SECTION (i)]
GOVERNMENT OF
INDIA
MINISTRY OF
FINANCE
(DEPARTMENT OF
REVENUE)
Notification
No. 23/2016-Customs
New
Delhi, the 1st March, 2016
G.S.R.
(E).- In exercise of the
powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52
of 1962) and in supersession of the notification of the Government of India in
the Ministry of Finance ( Department of Revenue) No. 72/94-Customs, dated the
1st March, 1994 published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub-section (i), vide number G.S.R. 184 (E) dated the 1 st March,
1994, except as respects things done or omitted to be done before such
supersession, the Central Government, being satisfied that it is necessary in
the public interest so to do, hereby exempts parts of aircraft falling within
the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported
into India under the Standard Exchange Scheme, from so much of duty of customs
leviable thereon, as is in excess of the duty of customs which would be
leviable if the value of the said parts were made up of the Standard Exchange
Cost, insurance and freight charges both ways subject to the following
conditions, namely:-
(i)
such parts have been repaired or overhauled or are being imported for repair or
overhaul and are not new parts;
(ii)
the importer and the exporter have entered into a Standard Exchange Agreement;
(iii)
the importer is registered with the Director General of Civil Aviation ;
(iv)
the Standard Exchange Cost charged by the exporter or importer is final;
(v)
no drawback of duty has been claimed or shall be claimed in respect of parts of
aircraft exported or imported for repair or overhaul under the said Standard
Exchange Agreement; and
(vi)
the importer, at the time of clearance, produces a certificate from the
exporter,-
(a)
that the imported parts have been supplied from a pool of repaired or
overhauled parts maintained under the Standard Exchange Scheme and such parts
are not new parts and; that the Standard Exchange Cost charged for repair or
overhaul is final; or
(b)
that the parts have been sent to the importer under Standard Exchange Scheme
for repair or overhaul and such parts are not new parts.
Explanation
- For the purposes of this notification,-
(1)
“Standard Exchange Scheme” means a scheme under which the exporter of a
repaired or overhauled aircraft part; or an importer of an aircraft part for
repair or overhaul , agree to supply a repaired or overhauled part in exchange
of such part ;
(2)
“Standard Exchange Agreement” means an agreement made under Standard Exchange
Scheme;
(3)
“Standard Exchange Cost” means the cost of repair or overhaul charged by the
exporter or importer of the aircraft part under Standard Exchange Scheme, which
also includes charges for materials, if any, used for such repair or overhaul.
[F.No.334/8/2016-TRU]
[Anurag Sehgal]
Under Secretary to the Government of India
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