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of <h1>Amendment to Notification No. 50/99: Advance Licence for Deemed Exports Now Includes Power and Refinery Projects Under Customs Act, 1962.</h1> The Central Government has amended Notification No. 50/99 regarding Advance Licence for Deemed Exports under the Customs Act, 1962. This amendment, issued through Notification No. 60/2001-Customs on May 30, 2001, modifies the conditions under which importers can utilize Advance Licences for deemed exports. Specifically, it requires importers to present the licence at customs clearance for debit purposes. Additionally, the amendment updates the explanation clause to include the supply of goods to power and refinery projects not previously covered. This change aims to align with the Export and Import Policy 1997-2002.
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