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of <h1>Section 143A Customs Act Omission: Impact on Duty Deferment for Advance Licence Imports and Export Obligations Compliance</h1> Section 143A of the Customs Act, 1962, which was omitted by the Finance Act, 2013, allowed for duty deferment on materials imported under an Advance Licence. This provision enabled the clearance of imported materials without immediate duty payment, provided the goods were exported within a specified timeframe. Conditions included adjusting duty against export drawbacks and imposing interest on unpaid duties if export obligations were unmet. Importers were required to provide a bond with surety to ensure compliance with these conditions.
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