9911796707
TMI BlogAmendment of Act 52 of 1962X X X X Extracts X X X X X X X X Extracts X X X X ..... ion therefrom, such goods shall be liable to duty and be subject to all the conditions and restrictions, if any, to which goods of the like kind and value are liable or subject, on the Importation thereof: Provided that if such importation (other than importation of goods exported in bond or of goods produced or manufactured in a free trade zone) takes place within three years after the exportat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n each case, extend the aforesaid period of three years for such further period as it may deem fit. Explanation I-Where in respect of any goods produced or manufactured in a free trade zone, any duty leviable under this sub-section is leviable at different rates, then, such duty shall be leviable at the highest of those rates. Explanation II. For the purposes of this section, "free trade ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ;or section 59A" shall be omitted; (6) for section 61, the following section shall be substituted, namely:- '61. (1) Any warehoused goods may be left in the warehouse in which they are deposited or in any warehouse to which they may be removed,― (a) in the case of capital goods intended for use in any hundred per cent. export oriented undertaking, till the expiry of five years ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e warehouse is cancelled, the owner of any goods warehoused therein shall, within seven days from the date on which notice of such cancellation is given or within such extended period as the proper officer may allow, remove the goods from such warehouse to another warehouse or clear them for home consumption or exportation. (2) Where any warehoused goods remain in a warehouse beyond the period s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... public interest, by notification in the Official Gazette, specify the class of goods in respect of which no interest shall be charged under this section. Explanation. For the purposes of this section, "hundred per cent. export oriented undertaking" has the same meaning as in Explanation 2 to sub-section (1) of section 3 of the Central Excises and Salt Act, 1944 (1 of 1944).'. -< ..... X X X X Extracts X X X X X X X X Extracts X X X X
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