Bond requirement for imports now mandates execution before clearance and adds substantial interest on delayed export obligation. Amendments require omission of clause (a) in condition (iii), add an interest charge from date of clearance for clause (b), substitute a proviso that a bond is unnecessary after full discharge of the export obligation, and amend condition (v) to require production of the discharge certificate with evidence to the satisfaction of the Assistant Commissioner of Customs. The Schedule now mandates that a bond in terms of the notification be executed before clearance of goods for both import and export.
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Provisions expressly mentioned in the judgment/order text.
Bond requirement for imports now mandates execution before clearance and adds substantial interest on delayed export obligation.
Amendments require omission of clause (a) in condition (iii), add an interest charge from date of clearance for clause (b), substitute a proviso that a bond is unnecessary after full discharge of the export obligation, and amend condition (v) to require production of the discharge certificate with evidence to the satisfaction of the Assistant Commissioner of Customs. The Schedule now mandates that a bond in terms of the notification be executed before clearance of goods for both import and export.
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