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of <h1>India Updates Customs Rules for ISPs: New Certification and Bond Requirements for Software Export Goods Importation.</h1> The Government of India has issued Notification No. 1/2017-CUSTOMS, amending the previous Notification No. 153/93-Customs, dated 13th August 1993. The amendments specify conditions for importers, referred to as Infrastructure Service Providers (ISPs), who must provide a certificate from the Software Technology Parks Society confirming the use of imported goods for software export purposes. ISPs are required to execute a bond ensuring the installation and use of goods for software export, with restrictions on removal without approval. The notification also outlines depreciation rates for goods, allowing re-export or clearance with depreciation-based duty. Additionally, the term 'Chief Executive' is replaced with 'Director' in the annexure.
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