Customs exemption for aquaculture inputs permits duty-free import for integrated farms, subject to export obligations and bond conditions. Exemption from customs and related additional duties is provided for specified goods imported for use in an integrated aquaculture farm by approved 100% Export Oriented Undertakings, covering capital goods, material handling equipment, spares, office equipment, captive power plants and production tools. The exemption requires prior approval, execution of a bond and a Development Commissioner's certificate, observance of export obligations for ten years or as extended, payment of customs duty on depreciated value if the unit ceases to be an approved EOU, permission for limited domestic sale under the Export and Import Policy subject to excise duty, and may be subject to re-export conditions imposed by the Collector of Customs.
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.
Customs exemption for aquaculture inputs permits duty-free import for integrated farms, subject to export obligations and bond conditions.
Exemption from customs and related additional duties is provided for specified goods imported for use in an integrated aquaculture farm by approved 100% Export Oriented Undertakings, covering capital goods, material handling equipment, spares, office equipment, captive power plants and production tools. The exemption requires prior approval, execution of a bond and a Development Commissioner's certificate, observance of export obligations for ten years or as extended, payment of customs duty on depreciated value if the unit ceases to be an approved EOU, permission for limited domestic sale under the Export and Import Policy subject to excise duty, and may be subject to re-export conditions imposed by the Collector of Customs.
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