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Imports under VABL - Amendment to Notification No. 80/95-Cus. - 141/95 - Customs -TariffExtract Imports under VABL - Amendment to Notification No. 80/95-Cus. Notification No. 141/95-Cus. Dated 19-9-1995 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 further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 80/95-Customs, dated the 31st March, 1995, namely :- In the said notification, - (i) in condition (ii), - (a) clause (a) shall be omitted; (b) in clause (b), the following shall be added at the end, namely :- "together with interest at the rate of 24% per annum from the date of clearance of the materials"; (c) for the proviso, the following proviso shall be substituted, namely :- "Provided that the Bond shall not be necessary in respect of imports made after discharge of export obligation in full;"; (ii) in condition (v), for the words, "bearing endorsement of the Licensing Authority in evidence of discharge of export obligation", the words, "together with evidence of discharge of export obligation to the satisfaction of the Assistant Commissioner of Customs", shall be substituted. (iii) In the schedule, - (a) under the heading, "I-IMPORT" for the portion beginning with the words "a Bond/Legal Undertaking in terms of", and ending with the brackets and words, "(Strike off inapplicable portion)" the following shall be substituted, namely :- "A Bond in terms of the said notification shall be executed before the clearance of the goods from the customs."; (b) under the heading, "II-EXPORT" for the portion beginning with the words "a Bond/Legal Undertaking in terms of", and ending with the brackets and words, "(Strike off inapplicable portion)" the following shall be substituted, namely :- "A Bond in terms of the said notification shall be executed before clearance of the goods from the customs."
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