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Amendments to Notification No. 260/92-Cus. [Chapter 98] - 100/93 - Customs -TariffExtract Amendments to Notification No. 260/92-Cus. [Chapter 98] Notification No. 100/93-Cus. Dated 16-3-1993 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, 260/92-Customs, dated the 27th August, 1992, namely :- In the said notification, — (a) In the first paragraph, - (i) for the words and brackets "raw materials, components, inter mediates, consumbales, parts other than spares, and packing materials (hereinafter referred to as said goods)", the word "materials" shall be substituted; (ii) the words, "or for the replenishment of the said goods, used in the manufacture of such final goods, already supplied" shall be omitted; (iii) in condition (i), for the words "said goods for the aforesaid purpose" the words "said materials for the aforesaid purpose and the same is produced at the time of clearance for debit by the proper officer of Customs" shall be substituted; (iv) in clauses (a) and (b) of condition (2), for the words "said goods", the words "said materials" shall be substituted; (v) in condition (3) for the words "said imported goods", the words "said imported materials" shall be substituted; (vi) in condition (5), - (a) for the words "said imported goods", the words "said imported materials" shall be substituted; (b) the following proviso shall be added :- "Provided that where obligations under the Licence have been fully discharged, sale proceeds realised and bond executed in terms of condition (3) has been redeemed by the Licensing Authority, the importer may, if benefit of input stage credit under Rule 56A or Rule 57A of the Central Excise Rules, 1944 has notbeenavailed in respect of goods manufactured, transfer the imported materials to any person."; (vii) after condition (5), the following shall be added, namely :- "(6) The importer at the time of clearance of the imported materials makes a declaration before the Assistant Collector of Customs that he shall pay on demand, an amount equal to the duty leviable but for the exemption, on the imported materials in respect of which the conditions specified in this notification have not been complied with."; (b) for paragraph 2, the following shall be substituted, namely:- "2. Where benefit of this notification is sought by a person other than the licencee, such benefit shall be allowed against the licence only if it bears endorsement of transferability by the Licencing Authority: Provided that no such endorsement of transferability shall be made by the Licensing Authority - (i) unless the obligations against the licence have been discharged, sale proceeds realised and the bond executed by the importer in terms of condition (3) redeemed; (ii) where benefit of input stage credit under rule 56A or rule 57A of Central Excise Rules, 1944, has been obtained; and (iii) where the licence has been issued prior to 01-04-1992"; (c) paragraph 3 shall be omitted; (d) in the schedule, in clause (ii), after serial No. 10 the following shall be added, namely :- "11 Exim Bank of Japan 12 International Finance Corporation (IFC) 13 Canadian International Development Agency (CIDA) 14 Overseas Development Agency (ODA)."; (e) in the explanation, for clause (ii), the following shall be substituted, namely :- "(ii) "Licensing Authority" means the Director General of Foreign Trade appointed under section 6 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) or an officer authorised by him to grant a licence under the said Act; (iii) "material" means,- (a) raw materials, components, intermediates, consumables, and parts required for manufacture of final goods to be supplied; (b) spares including mandatory spares, within a value limit of 5% of the value of the licence, which are required to be supplied along with the final goods so manufactured; (c) packing materials required for the packing of final goods to be supplied.".
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