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<h1>India Exempts Custom Duties on Shipbuilding Materials, Removes Bonded Warehouse Requirement Under Section 65 of Customs Act</h1> The Government of India has amended notification No. 12/2012-Customs to exempt custom duties on raw materials and parts used in manufacturing specified ships and vessels. This amendment removes the requirement for manufacturing in a custom bonded warehouse under Section 65 of the Customs Act, 1962. A new serial number, 469A, is added to the notification, specifying conditions for utilizing imported raw materials. Units must furnish a bond to the relevant authorities, detailing unutilized goods, and commit to using them for specified manufacturing purposes. Failure to comply will result in the payment of duties that would have been exempted.