Imports against V.B.A.L. - Notification No. 104/95-Cus. Amended - 155/95 - Customs -Tariff

Imports against V.B.A.L. - Notification No. 104/95-Cus. Amended Notification No. 155/95-Cus. Dated 27-10-1995 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 amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 104/95-Customs, dated the 30th May, 1995 published in the Gazette vide GSR No. 458(E), dated the 30th May, 1995, namely :- In the said notification, - (A) in condition (2), - (a) in the proviso, for the words "other than the port of jurisdiction of the designated authority", the words "or airport or Inland Container Depot other than the ports or airports or Inland Container Depots at Bombay, Nhava Sheva, Calcutta, Madras or Delhi" shall be substituted. (b) after the existing proviso, the following proviso shall be added, namely :- "Provided further that such credit - (1) shall be admissible only in respect of the import items (hereinafter referred to as the inputs) which are specified with quantity restrictions in the standard input-output norms published in the Hand-book of Procedures, Vol. II, by the Government of India in the Ministry of Commerce vide Public Notice No. 121 (PN)/92-97, dated the 31st March, 1992, as amended from time to time (hereinafter referred to as the said norms), and which inputs are declared by the exporter to have been actually used in the product exported; (ii) shall be admissible only where the export product is declared and if necessary proved to the satisfaction of the Assistant Commissioner of Customs to have been manufactured out of inputs of prime quality, except where the said norms allow import of scrap or waste; (iii) shall be allowed, - (a) at the rate of customs duties chargeable under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) read with notifications, if any, issued under section 25 of the said Customs Act on the inputs as if the inputs were imported on the date on which the order permitting the clearance and loading the Export product was made by the proper officer of the Customs under section 51 of the said Customs Act; (b) where duties of customs are chargeable on any inputs by reference to its value, - (I) the value of such inputs shall be deemed to be the price at which such or like inputs are ordinarily sold or offered for sale, for delivery at the time and place of importation in the course of international trade, where the seller and the buyer have no interest in the business of each other, and the price is the sole consideration for the sale or offer for sale and for the purpose of this clause the time and place of importation shall be deemed to be the time and place of the order permitting exportation of the export products in terms of Section 51 of the said Customs Act; and (II) such value shall be calculated with reference to the rate of exchange as in force on the date on which the shipping bill or the bill of exports, as the case may be, is presented under Section 50 of the said Customs Act; (iv) shall not be allowed in case the total value of inputs in respect of which credit is claimed exceeds 75% of the F.O.B. value of the products exported, unless otherwise permitted by a general or special order by the Director General of Foreign Trade, in the Ministry of Commerce, or any other officer authorised by him"; (B) after condition (4) and before the Explanation, the following shall be inserted, namely :- "(5) The said Pass Book or the credit allowed therein shall not be transferable to any other person."