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of <h1>India Issues New Rules for Concessional Duty on Imported Goods for Manufacturing, Effective April 1, 2016.</h1> The Government of India, through the Ministry of Finance, issued Notification No. 32/2016 on March 1, 2016, introducing the Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2016. These rules, effective from April 1, 2016, apply to manufacturers importing goods at concessional duty rates for producing excisable goods. Manufacturers must provide detailed information to relevant excise authorities, maintain records, and submit quarterly returns. The rules outline procedures for availing exemptions, including bond submission and re-export or clearance of unused goods. Non-compliance may lead to recovery of duties and interest.
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