Exemption from customs duty: goods imported to execute export orders exempt subject to conditions, re export and bond requirements. Exempts goods imported to execute export orders from customs duty and additional duty, provided they are imported for jobbing, repair, servicing, restoration, reconditioning or renovation and, together with resultant products, are re exported to the supplier within six months (or extended period allowed by the Assistant Collector). The exemption requires goods not be sold or otherwise disposed of, a minimum FOB uplift on resultant exports over CIF of imports, and execution of a bond with security to pay duties if conditions are breached; certain tooling may be retained on duty payment without depreciation with prior policy permission.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption from customs duty: goods imported to execute export orders exempt subject to conditions, re export and bond requirements.
Exempts goods imported to execute export orders from customs duty and additional duty, provided they are imported for jobbing, repair, servicing, restoration, reconditioning or renovation and, together with resultant products, are re exported to the supplier within six months (or extended period allowed by the Assistant Collector). The exemption requires goods not be sold or otherwise disposed of, a minimum FOB uplift on resultant exports over CIF of imports, and execution of a bond with security to pay duties if conditions are breached; certain tooling may be retained on duty payment without depreciation with prior policy permission.
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