9911796707
TMI BlogRe-import of Indian origin goods even for re-processing, re-conditioning, etcX X X X Extracts X X X X X X X X Extracts X X X X ..... tured in India, when re-imported into India for the purpose of repairs, reconditioning, reprocessing, refining, remaking or similar process. As may be seen the new notification considerable enlarges the scope of processes carried out for the purpose of re-export of re-imported goods of Indian origin. New notification provides for due accountal of the goods during such processes as well as it provides for exemption of duty on loss of quantity of re-imported goods, if any, during such process. 2. The new notification No. 158/95-Customs dated 14.11.95 basically contains the following situations- (1) it exempts the goods manufactured in India and parts of such goods whether of Indian or foreign manufacture which were earlier exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (i) Such re-importation takes place within one year from the date of exportation. (ii) Goods are re-exported within six months of the date of re-importation or such extended period not exceeding period into exceeding a further period of six months as the Commissioner of Customs may allow; (iii) The Assistant Commissioner of Customs is satisfied as regards identity of the goods. (iv) the importer executes a bond of the effect that- (a) such processes shall be carried out in a factory under Central Excise control following the procedure laid down under rule 173 MM of Central Excise Rules, 1944 or in a customs bond u/s 65 of the CustomsAct,1962. (b) he shall maintain a due amount of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... processes. Period of one year reduced to six months. This restriction would apply prospectively only does not apply for imports already done. 4. The new notification even covers situation like the goods re-imported for the purpose of changing the packing of goods earlier exported. It also covers the remaking of tablets of medicines which got damaged during transportation or otherwise. It also covers the cases to re- import of chemicals which are required to be reprocessed. 5. The provisions of this notification would also apply in case of re-import goods which were earlier exported under any scheme like DEEC, 10% EOU etc., subject to fulfillment of the conditions prescribed in the notification. 6. It is expected that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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