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TMI BlogSpecial Classification Schemes for Imported Goods; for a Project, Baggage and Postal ArticlesX X X X Extracts X X X X X X X X Extracts X X X X ..... a 'Project', a number of goods may be imported in one or many consignments. If all goods required for the project are to be classified and valued separately for assessment to duty, the process becomes cumbersome. This may lead to delay in clearance of goods. Further, the suppliers, while sending goods for a contracted project, do not value each and every item or parts of machinery manufactured and supplied in stages. Ascertaining values for different items further delayed assessment on merits and leading to demurrage and time and cost overruns for the project. The project import assessment provisions introduced in Customs Tariff in 1965 and continued ever since facilitate early and quick assessment by simplifying the process of classificat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a large number of projects for assessment under heading 98.01 . 4. Goods that can be imported under this scheme are machinery, prime movers, instruments, apparatus, appliances, control gear, transmission equipment, auxiliary equipment, equipment required for research and development purposes, equipment for testing and quality control, components, raw materials for the manufacture of above items, etc. In addition, raw material, spare parts, semifinished material, consumable upto ten percent of the assessable value of goods can also be imported. 5. The purposes for which such goods can be imported are for initial setting up' or for 'substantial expansion' of an unit of the project. The 'unit' is any self contained portion of the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ations, seminars, congresses and conferences, duly sponsored or approved by the Government of India or Trade Fair Authority of India, as the case may be, before the date of payment of duty. To expedite early registration, the importers are advised to submit the following documents at the time of registration:- a) An application for registration of the contract. b) Original deed of contract together with true copy thereof. c) Industrial Licence and letter of intent, SSI Certificate granted by the appropriate authority with a copy thereof. d) Original Import licence, if any, with a list of items showing the dimensions, specifications, quantity, quality, value of each item duly attested by the Licensing Authority and a copy there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Procedure Followed in Custom Houses: 9. After satisfying that goods are eligible for project imports benefit and importer has submitted all the required document, the contract is registered by the Custom House and as a token of registration the provisional duty bond is accepted by the Asst./ Dy. Commissioner of Customs, Project Group. The details of the contracts are entered in the register kept for the purpose and a project registration number is assigned and is communicated to the importer. The importer is required to refer to this number in all subsequent correspondence. Clearance of Goods after Registration: 10. On every Bill of Entry filed for clearance of goods under the Project Import Scheme, the importer/clearing agen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Verification: 12. To ensure proper that the imported goods have actually been used for the projects for which these have been imported, plant site verification may be done in cases where value of the project contract exceeds Rs.1 crore. In other cases plant site verification is normally done selectively. (c) Action by the Assessing Group: 13. In the normal course after submission of the reconciliation statement and other documents by the importers, the provisional assessments are finalized within a period of three months where plant site verification is not required and within six months where plant site verification is required. In cases where a demand has been issued and confirmed on such finalisation and importer has not p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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