Materials imported against value based advance licence - Amendment to Notification No. 203/92-Cus. - 138/93 - Customs -Tariff

Materials imported against value based advance licence - Amendment to Notification No. 203/92-Cus. Notification No. 138/93-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. 203/92-Cus., dated the 19th May, 1992, namely:- In the said notification,- (a) for condition (vi), the following shall be substituted, namely:- "(vi) 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"; (b) in the Explanation, in clause (iii),- (i) in sub-clause (a), for the proviso, the following proviso shall be substituted, namely :- "Provided that in the case of electronic goods, all export items covered by one serial number in the Standard Input Output and Value Addition norms as contained in Handbook of Procedures, 1992-97, Volume-II, published, vide Public Notice No. 121(PN)/92-97, dated the 31st March, 1993, of the Government of India in the Ministry of Commerce, shall to deemed to be single export product."; (ii) 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; (c) 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.