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of <h1>India Updates Customs Duty Exemption Rules; New Bond Requirements for Duty-Free Import Authorisation Holders</h1> The Government of India has issued amendments to the notification Number 40/2006-Customs, dated May 1, 2006, concerning duty exemptions for materials imported under a Duty Free Import Authorisation. Key changes include new conditions for importers regarding bonds and security for materials imported before and after fulfilling export obligations. Importers must provide bonds to ensure compliance with duty payment conditions, with specific provisions for cases involving transferred authorisations. Additionally, updates have been made to references concerning Special Economic Zones and the definition of 'dutiable goods.' These amendments aim to streamline customs procedures and ensure compliance with duty regulations.
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