Customs duty exemption on goods imported/procured for the purpose of development, operation and maintenance of special economic zone.

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CUSTOMS NOTIFICATION (No. 81 & 82) DATED 13.8.2002
Customs duty exemption on goods imported/procured for the purpose of development, operation and maintenance of special economic zone.

CUSTOMS NOTIFICATION NO. 81/2002 Dated 13th August, 2002

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) vide No.137/2000-Customs, dated the 19th October, 2000, namely,-

In the said notification, in the opening paragraph, for the words “for the purposes of manufacture of goods”, the word “for the purposes of setting up of units or for the purposes of manufacture of goods” shall be substituted.

Sd/-
(D. S. Garbyal)
Under Secretary to the Government of India

F. No. 314/24/2001-FTT(Pt)
Issued by:
Ministry of Finance, Department of Revenue, New Delhi.

Note: The principal notification No. 137/2000-Cus, dated the 19 th October, 2000, was issued vide GSR 804(E), dated the 19th October, 2000, and was last amended by notification No. 65/2002-Customs, dated the 25 th June, 2002, issued vide
GSR. 449(E) dated the 25 th June, 2002.

CUSTOMS NOTIFICATION NO. 82/2002 Dated 13th August, 2002

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby exempts goods (hereinafter referred to as the said goods), when imported into India or procured from a Public Warehouse or a Private Warehouse appointed or licensed, as the case may be, under section 57 or section 58 of the said Customs Act by a developer (hereinafter referred to as
the importer) of special economic zone for the purpose of development, operation and maintenance of special economic zone, from the whole of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and the additional duty, if any, leviable thereon under section 3 of the said Customs Tariff Act, subject to the following conditions, namely:-

(i) the importer has been granted permission by the Development Commissioner to develop, operate and maintain the special economic zone;
(ii) the said goods have been authorised to be imported or procured from a Public Warehouse or a Private Warehouse by a Committee headed by the Chief Commissioner of Customs or the Chief Commissioner of Customs and Central Excise, as the case may be, having jurisdiction over the said special economic zone;
(iii) the said goods shall be stored in the premises appointed or licenced as Public Warehouse or Private Warehouse, as the case may be, under section 57 or section 58 of the said Customs Act;
(iv) the importer shall maintain proper account of import or procurement, consumption and utilisation of the said goods and shall submit a quarterly statement to the Commissioner of Customs or the Commissioner of Customs and Central Excise, as the case may be, having jurisdiction over the said special economic zone, in such Form as may be specified by him;
(v) the said goods shall not be allowed to be removed from the special economic zone except with the permission of the Assistant Commissioner of Customs or Deputy Commissioner of Customs or the Assistant Commissioner of Customs and Central Excise or Deputy Commissioner of Customs and Central Excise, as the case my be, having jurisdiction over the said special economic zone, and on payment of applicable duty; and
(vi) the importer shall execute a bond in such Form and for such sum as may be specified by the Commissioner of Customs or the Commissioner of Customs and Central Excise, as the case may be, binding himself to utilise the said goods within a period of six months or such extended period as may be allowed by him, and if the importer fails to do so, then he shall pay, on demand, an amount equal to the duty as leviable on the said goods alongwith interest at the rate of 15 per cent. per annum on the said duty from the date of importation or procurement of the said goods till the payment of such duty.

Sd/-
(D. S. Garbyal)
Under Secretary to the Government of India

F. No. 305/24/2001-FTT(Pt.)
Issued by:
Ministry of Finance, Department of Revenue, New Delhi.