[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. 89/2017-Customs
New Delhi, the
24th November, 2017
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
sub-section (12) of section 3 of Customs Tariff Act, 1975 (51 of 1975), the
Central Government 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.
50/2017- Customs, dated the 30th June, 2017, published in the Gazette of India,
Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E),
dated the 30th June, 2017, namely:-
In
the said notification, in the ANNEXURE, in Condition No.95, under the heading
“Condition”, for sub-clause (a), the following shall be substituted, namely:-
“(a) In case of imports
for a project for which certificate regarding Mega Power Project status issued
by an officer not below the rank of Joint Secretary to the Government of India
in the Ministry of Power is provisional, the importer furnishes a security in
the form of a Fixed Deposit Receipt or Bank Guarantee from any Scheduled Bank
for a term of one hundred and twenty-six months in the name of the President of
India for an amount equal to the duty of customs payable on such imports but
for this exemption, to the Deputy Commissioner of Customs or Assistant
Commissioner of Customs, as the case may be, at the time of importation and if
the importer fails to furnish the final mega power status certificate with in a
period of one hundred and twenty months from the date of importation, the said
security shall be appropriated towards duty of customs payable on such imports
but for this exemption:
Provided
that in case of provisional Mega Power Projects, the security in the form of a
Fixed Deposit Receipt or Bank Guarantee may be released proportionately as per
the proportionate mega certificate issued by the said Joint Secretary to the
Government of India in the Ministry of Power;”.
[F.No.354/94/2011-TRU(Pt-1)]
(Mohit Tewari)
Under Secretary to the Government of India
Note: The principal
notification No.50/2017-Customs, dated the 30th June, 2017 was published in the
Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide
number G.S.R. 785(E), dated the 30th June, 2017 and last amended vide
notification No. 87/2017-Customs, dated the 17 th November, 2017, published
vide number G.S.R. 1430 (E), dated the 17th November, 2017.
We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients:
Copyright © 2009 - 2024 www.seair.co.in. All Rights Reserved.