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TMI BlogExemption to specified goods imported or procured from a public warehouse or private warehouse for use in a granite quarry for quarrying of graniteX X X X Extracts X X X X X X X X Extracts X X X X ..... imported into India or procured from a public warehouse or private warehouse appointed or licensed, as the case may be, under section 57 or section 58 of the said Customs Act, for use in a granite quarry for the purpose of quarrying of granite (hereinafter referred to as the said purpose), by hundred percent export oriented nits approved by the Board of Approvals for hundred percent export oriented units, appointed by a notification of Government of India in the Ministry of Industry (Department of Industrial Policy and Promotion), or the Development Commissioner concerned, as the case may be (hereinafter referred to as the said EOU Board) or by units within a Free Trade Zone or Export Processing zone as specified in Annexure-I to this noti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rest at the rate of 20% per annum on the said duty from the date of duty free importation or procurement of the said goods till the date of payment of such duty, if- (i) in the case capital goods, such goods are not proved to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs to have been installed or otherwise used wihtin a period of one year from the date of importation or procurement thereof or within such extended period not exceeding five years as the Assistant Commissioner of Customs of Deputy Commissioner of Customs may, on being satisfied that there is sufficient cause for not using them as above within the said period, allow; (ii) in case of goods other than capital goods, such goods are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l submit such accounts periodically to the Development Commissioner of the Zone and toe the Assistant Commissioner of Customs or Deputy Commissioner of Customs, in such form and in such manner as may be laid down by Development Commissioner. (5) The quarries shall be in the name of the importer either on ' lease - basis ' or on ' owner ship basis'. The location and area of quarries or any subsequent change in location of quarry or quarries at a later stage, shall be intimated by the importer to the Development Commissioner and the Assistant Commissioner of Customs or Deputy Commissioner of Customs. (6) The Assistant Commissioner of Customs or Deputy Commissioner of Customs may, subject to such conditions and limitations as he may specif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also subject to such permission on the Development Commissioner, where it is exclusively required under the Export and Import policy, allow the unit to clear the said goods to any other place in India in accordance with the Exports and import Policy - (a) such clearance of capital goods many be allowed on payment of an amount aqual to the customs duty leviable on such goods on the depreciated value thereof and at the rate in force on the date of payment of such duty; (b) such clearance of goods other than capital goods may be allowed on payment of customs duty on the value at the time of import and at the rates in force on the date of payment of such customs duty; Provided that the importer shall not be eligible to avail of the exemp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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