Period for which goods may remain warehoused - 486/86 - Customs -Tariff

Period for which goods may remain warehoused Notification No. 486/86-Cus. Dated 11-12-1986 In exercise of the powers conferred by sub-clause (v) of clause (a) of sub-section (1) of section 61 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary and expedient so to do, hereby specifies the following goods for the purposes of the said clause (a), namely :- (1) Goods imported for sale through Duty Free Shops; (2) Petroleum products falling within Chapter 27 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975); (3) Plant, machinery, equipment, components and raw materials falling under heading No. 98.01 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975); (4) Machinery, equipment, components and raw materials imported for building of ships or fitment thereto. Explanation :- For the purposes of this notification, "Duty Free Shops" means shops operating, with the approval of the Ministry of Finance in the Department of Revenue, in the Customs area in the aerodromes of Bombay, Calcutta, Delhi and Madras whereat international air transport services are operated, for the sale of imported goods free of duty, and commonly known as Duty Free Shops.