Ban on export of warehoused goods in vessels of less than 1000 tons - 46 - Customs -Tariff

Notification No. 46 Dated 01/02/1963 Whereas the Central Government is of the opinion that warehoused goods exported in a vessel of less than one thousand tons gross are likely to be smuggled back into India; Now therefore, in exercise of the powers conferred by sub-section (2) of section 69 of the Customs Act, 1962 (52 of 1962), the Central Government hereby directs that export of warehoused goods in such vessel shall be allowed without payment of import duty leviable thereon subject to the condition that the exporter or the agent of the vessel executes a bond in an amount equal to the import duty leviable on such goods, and in such form and manner as that officer deems fit; the terms of the bond shall be that if the person executing the bond produces to the proper officer within three months or within such extended period as such officer may allow, a certificate issued by the Customs authorities at the port of destination that the goods have been landed at the port, the bond shall stand discharged; but otherwise an amount equal to the import duty leviable on the goods in respect of which the said certificate is not produced shall stand forfeited; If the proper officer so requires, the bond shall be with such surety or security or both as is acceptable to him.