Amendment to Notification No-48/99 in relation to provisions of Annual Advance Licence - 059/2001 - Customs -Tariff

Amendment to Notification No-48/99 in relation to provisions of Annual Advance Licence 30 th May, 2001 Notification No. 59/2001-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the Public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 48/99-Customs dated 29th April, 1999, namely:- In the said notification:- (i) in to condition (vi), the following proviso shall be added, namely,- "Provided that an Annual Intermediate Licence holder may discharge export obligation by supplying the resultant products to ultimate exporter holding Annual Advance Licence in terms of paragraph 7.3 (b) of the Export and Import Policy 1997-2002, notified by the Government of India in the Ministry of Commerce, vide notification No. 1 (RE-00)/1997-2002 dated the 31 st March, 2001:" (ii) in the explanation, after clause (iii) the following clause shall be inserted, namely.- (iv) "Annual Advance Licence includes Annual Advance Licence for intermediate Supply issued in terms of paragraph 7.3(b) of the Export and Import Policy 1997-2002, Notified by the Government of notification No. 1(RE-00)1997-2002 dated the 31 st March, 2001". N.K. Sinha Under Secretary to the Government of India F.NO. 605/53/2001-DBK Note : The principal notification No. 48/99-Customs, dated the 29th April, 1999 was published in the Gazette of India (Extraordinary), vide GSR No. 299(E), dated the 29 th April, 1999 and last amended by notification No. 30/2001-Customs, dated the 12 th March, 2001 issued vide GSR 171(E), dated the 12 th March, 2000.