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TMI BlogAmends notification no. 27/2002 dated 3-1-2002 - Concessional rate of duty on Machinery, equipment or tools taken on lease when re-exported after useX X X X Extracts X X X X X X X X Extracts X X X X ..... e powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 27/2002-Customs, dated the 1st March, 2002 which was published in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n such extended period not exceeding 18 months from the date of said import, as the Assistant Commissioner of Customs or the Deputy Commissioner of Customs, as the case may be, may allow; (4) where the Assistant Commissioner of Customs or the Deputy Commissioner of Customs, as the case may be, grants extension of the aforesaid period for re-export, the importer shall pay the difference between ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of,- (i) goods which are re-exported within three months of the date of import, so much of the duty of customs as is in excess of the amount calculated at the rate of five per cent.; (ii) goods which are re-exported after three months, but within six months, of the date of import, so much of the duty of customs as is in excess of the amount calculated at the rate of fifteen per cent.; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mount calculated at the rate of forty per cent., of the aggregate of the duties of customs, which would be leviable under the Customs Act, 1962 or under any other law, read with any notification for the time being in force in respect of the duty so chargeable. Note: The goods imported under this concession shall not be eligible for drawback under subsection (2) of section 74 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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