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of <h1>Customs Amendments: Duty-Free Imports for 100% EOUs Modified, New Interest Penalties for Non-Compliance Effective May 19, 1999.</h1> The Central Government has amended several customs notifications related to the import of goods for development in software or for use in export goods by 100% Export Oriented Units (EOUs). These amendments, effective from May 19, 1999, modify conditions under which goods can be imported duty-free. Key changes include allowing goods to be procured from public or private warehouses and imposing a 20% annual interest on duties if certain conditions are not met. These conditions involve proving the use of imported goods within specified periods, achieving export performance targets, and allowing goods to be taken outside bonded premises for various processes without duty payment, subject to conditions.
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