Period of Utilization - Central Excise Practice Manual (OLD) - Central Excise

Period of Utilization In terms of exemption notification, as mentioned earlier, read with Section 61 of the Customs Act, 1962 , raw material, spares, consumables are to be used by the unit within a period of three years from the date of import or such extended period as may be allowed by Assistant Commissioner or Deputy Commissioner in charge of the unit. The capital goods are required to be installed in the approved premises within a period of one year from the date of import. Jurisdictional Assistant/Deputy Commissioner of Excise/Customs is empowered to extend the period of utilization. In case of operating units, such extensions are to be given liberally. (Ref.: Circular No. 30/99-Customs, dated 25.5.99 ).