Concessional import conditions updated: applicability limited, bond form simplified, and manufacturers must notify receipts and keep detailed records. Amendment confines the Rules to exemption notifications that expressly require their observance and replaces the requirement for 'a bond with surety or security to his satisfaction' with 'a bond to his satisfaction.' The new Rule 7 requires manufacturers obtaining concessional import benefits to notify the Superintendent of Central Excise of receipt of imported goods within two days (excluding holidays) and to maintain bill-of-entry-wise accounts showing quantity and value imported, quantities consumed for the intended manufacture, and quantities remaining in stock, producible to the Assistant Commissioner of Central Excise.
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Provisions expressly mentioned in the judgment/order text.
Concessional import conditions updated: applicability limited, bond form simplified, and manufacturers must notify receipts and keep detailed records.
Amendment confines the Rules to exemption notifications that expressly require their observance and replaces the requirement for "a bond with surety or security to his satisfaction" with "a bond to his satisfaction." The new Rule 7 requires manufacturers obtaining concessional import benefits to notify the Superintendent of Central Excise of receipt of imported goods within two days (excluding holidays) and to maintain bill-of-entry-wise accounts showing quantity and value imported, quantities consumed for the intended manufacture, and quantities remaining in stock, producible to the Assistant Commissioner of Central Excise.
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