Duty exemption for EOU and FTZ clearances limited to excise equal to customs duty for newer licences. The amendment substitutes the Export and Import Policy reference to permit para 64 or 65 and inserts a proviso limiting the exemption for clearances against advance release orders under duty free import licences issued on or after 1 April 1995: the exemption shall apply only to that portion of excise duty under section 3 of the Central Excises and Salt Act, 1944 equal to the customs duty specified for like goods in the First Schedule to the Customs Tariff Act, 1975.
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Duty exemption for EOU and FTZ clearances limited to excise equal to customs duty for newer licences.
The amendment substitutes the Export and Import Policy reference to permit para 64 or 65 and inserts a proviso limiting the exemption for clearances against advance release orders under duty free import licences issued on or after 1 April 1995: the exemption shall apply only to that portion of excise duty under section 3 of the Central Excises and Salt Act, 1944 equal to the customs duty specified for like goods in the First Schedule to the Customs Tariff Act, 1975.
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