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of <h1>India Amends Customs Act 1962: New Rules for Machinery Re-Importation, Extends Timeframes for Bhutan and Export Schemes.</h1> The Government of India, through the Ministry of Finance, has amended Notification No. 94/96-Customs, dated December 16, 1996, under the Customs Act 1962. The amendment specifies conditions for the re-importation of machinery and equipment. For Bhutan, re-importation is allowed within seven years of export or an extended period of up to three years. In other cases, re-importation is permitted within three years or an additional two years. For goods under specific export schemes, re-importation must occur within one year or an extended period of one more year. These changes aim to facilitate re-importation under specified conditions.
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