Materials imported against an advance licence - Amendment to Notification No. 204/92-Cus. - 139/93 - Customs -Tariff

Materials imported against an advance licence - Amendment to Notification No. 204/92-Cus. Notification No. 139/93-Cus. Dated 18-6-1993 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. 204/92-Customs, dated the 19th May, 1992, namely :- In the said notification, - (a) in condition (v), in clause (b), after the proviso, the following proviso shall be inserted, namely :- "Provided further that if any item included in the licence is not imported duty free, the drawback of both Customs and Central Excise Duties on such item shall be admissible only after the licence is modified by the Licensing Authority to delete that item from the said licence"; (b) for condition (vii), the following shall be substituted, namely :- "(vii) exempt materials shall not be disposed of or utilised in any manner, except for utilisation in discharge of export obligation, before the export obligation under the said licence has been discharged in full and export proceeds realised."; (c) in condition (viii), the following proviso shall be inserted, namely :- "Provided that no such endorsement of transferability shall be made by the Licensing Authority on Advance Intermediate Licences issued after 31st March, 1993."; (d) in the Explanation, in clause (iv), in sub-clause (b), for the words, "value of the licence", the words, figures and letters, "value of the licence issued upto the 31st March, 1993" shall be substituted; (e) in the Schedule - (i) in part 1, in the second paragraph, for the words "from the date of clearance of the first consignment of import", the words "from the date of issue of licence" shall be substituted; (ii) in part 2, in the second paragraph, for the words "from the date of clearance'of the first consignment of import", the words "from the date of issue of licence" shall be substituted.