Seeks to amend notification No. 12/2012, dated the 17th March, 2012 so as to allow transfer of goods imported for oil exploration from one eligible project to another - 28/2013 - Customs -Tariff
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Transferability of imported petroleum exploration goods allowed subject to DGH certification, transferee undertaking and remittance safeguards. Amendment permits transfer of goods imported under the exemption notification for petroleum exploration and related operations where the importer, at the time of transfer, produces (i) a Directorate General of Hydrocarbons certificate approving transfer to the named transferee and confirming the goods are required for the transferee's petroleum operations; (ii) an undertaking from the transferee to comply with all notification conditions and be liable for duty, fine or penalty for non-compliance; and (iii) where foreign company participation exists, a certificate that no foreign exchange remittance is made for the transfer, except when the transferee is an Indian company.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transferability of imported petroleum exploration goods allowed subject to DGH certification, transferee undertaking and remittance safeguards.
Amendment permits transfer of goods imported under the exemption notification for petroleum exploration and related operations where the importer, at the time of transfer, produces (i) a Directorate General of Hydrocarbons certificate approving transfer to the named transferee and confirming the goods are required for the transferee's petroleum operations; (ii) an undertaking from the transferee to comply with all notification conditions and be liable for duty, fine or penalty for non-compliance; and (iii) where foreign company participation exists, a certificate that no foreign exchange remittance is made for the transfer, except when the transferee is an Indian company.
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