9911796707
TMI BlogAdvance Intermediate Licence for iron & steel under Engg. goods export scheme - Customs instructionsX X X X Extracts X X X X X X X X Extracts X X X X ..... e. To give effect to this scheme which permits duty free import of inputs required by Iron and Steel Producers to manufacture Iron and Steel Intermediates for supply to Engineering Exporters, Notification No. 10/ 95-Customs dated the 7th March; 1995 has been issued. The following aspects should be kept in view while permitting duty free import against Value Based Advance Intermediate Licences issued under this Scheme. (i) Items permissible for import. The licence issued under the scheme shall be based on value based norms prescribed in the Handbook of Procedure, Vol. II for the sub-group "Iron, Steel, Ferro Alloys and Refractories" under the export product group "Engineering Product". The licence besides s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Products exporter in the form of a certificate from the Licencing Authority. The bond should also bind the importer with the actual user condition as contained in clause (v) of the notification. The said condition makes it obligatory for the licence holder to use the inputs imported in his own factory and in on case the licence or the inputs imported are transferable. For discharge of this obligation, a certificate of such use of inputs by Central Excise Superintendent incharge of the factory should be insisted upon. The said certificate should also confirm that no MODVAT was availed in respect of iron and steel intermediates supplied to Engineering Product Exporter. The extent of security or surety to be taken can be decided by the Custom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Ministry under Duty Exemption Scheme in this regard should be kept in view. (vi) Issue of Release Advice by the Licencing Authority. The Licence holder has to discharge obligation to supply Iron and Steel Intermediates to Engineering Products Exporters only against Release Advice issued by the Licencing Authority to the Engineering Product Exporter specifying the description, quantity, value and technical characteristics of the Iron and Steel Intermediates to be supplied. Exporters of Engineering Products seeking the Release Advice should not have a availed - (a) Brand Rate of drawback in respect of Iron and Steel Intermediates, or (b) Benefit of Duty Exemption ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
