Customs exemption for liquefied natural gas allows reduced duty for imports used in SEZs and power generation, subject to conditions. Exempts specified LNG and NG imports under tariff items 2711 11 00 and 2711 21 00 from customs duty and specified additional duty in excess of notified standard rates for several import purposes, including consumption in an SEZ plant, remnant clearance into the Domestic Tariff Area after SEZ operations, and supply for electricity generation by generating companies, while excluding captive use. Exemptions are subject to Annexure conditions requiring bill of entry declarations, authority certificates validating consumption or export, security by bank guarantee where applicable, post import certification of use for power generation, and undertakings to pay differential duty with interest on default.
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.
Customs exemption for liquefied natural gas allows reduced duty for imports used in SEZs and power generation, subject to conditions.
Exempts specified LNG and NG imports under tariff items 2711 11 00 and 2711 21 00 from customs duty and specified additional duty in excess of notified standard rates for several import purposes, including consumption in an SEZ plant, remnant clearance into the Domestic Tariff Area after SEZ operations, and supply for electricity generation by generating companies, while excluding captive use. Exemptions are subject to Annexure conditions requiring bill of entry declarations, authority certificates validating consumption or export, security by bank guarantee where applicable, post import certification of use for power generation, and undertakings to pay differential duty with interest on default.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
