Import under EPCG Scheme - Amendment to Notification Nos. 110/95-Cus., 111/95-Cus., 28/97-Cus. and 29/97-Cus. - 56/99 - Customs -Tariff

Import under EPCG Scheme - Amendment to Notification Nos. 110/95-Cus., 111/95-Cus., 28/97-Cus. and 29/97-Cus. Notification No. 56/99-Cus. Dated 11-5-1999 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 notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below in the corresponding manner as specified in column (3) of the said Table, namelyÿ:- TABLE Sl. No. Notification No. and  date Amendment (1) (2) (3) (1) 110/95-Customs, dated the 5th June, 1995 For condition (7) of the said notification, the following condition shall be substituted, namely :- "(7) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of yearwise period or overall period of fulfilment of export obligation or regularisation of shortfall, in export obligation, not exceeding 5% of such export obligation, the said yearwise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs : Provided that extension of yearwise period of export obligation shall not be allowed more than once and more than a period of one year within a period of five years". (2) 111/95-Customs, dated the 5th June, 1995 In paragraph 2 of the said notification, for condition (8) of the notification, the following condition shall be substituted, namely :- "(8) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of blockwise period or overall period of fulfilment of export obligation or regularisation of shortfall, in export obligation, not exceeding 5% of such export obligation, the said blockwise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs : Provided that extension of blockwise period of export obligation shall not be allowed for more than one block of two years : Provided further that extension of blockwise period of export obligation for the fourth block of two years shall not be allowed for a period of more than one year." (3) 28/97-Customs, dated the 1st April, 1997 For condition (6) of the said notification, the following condition shall be substituted, namely :- "(6) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of yearwise period or overall period of fulfilment of export obligation or regul arisation of shortfall, in export obligation, not exceeding 5% of such export obligation, the said yearwise period or overall period of export obligation may be exten- ded and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs : Provided that extension of yearwise period of export obligation shall not be allowed more than once and more than a period of one year within a period of five years." (4) 29/97-Customs, dated the 1st April, 1997 In paragraph 2 of the said notification, for condition (7) of the notification, the following condition shall be substituted, namely :- "(7) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of blockwise period or overall period of fulfilment of export obligation or regularisation of shortfall, in export obligation, not exceeding 5% of such export obligation, the said blockwise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs : Provided that extension of blockwise period of export obligation shall not be allowed for more than one block of two years : Provided further that extension of blockwise period of export obligation for the fourth block of two years shall not be allowed for more than a period of one year."