Restriction on transfer of imported materials requires retention until export obligation, sale proceeds realisation and bond redemption. The amendment adds a proviso that materials imported against a licence issued after 31st March, 1993 shall not be transferred until the export obligation is discharged, sale proceeds realised and the bond redeemed by the licensing authority; after those steps the importer may use the materials for manufacture of other goods.
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.
Restriction on transfer of imported materials requires retention until export obligation, sale proceeds realisation and bond redemption.
The amendment adds a proviso that materials imported against a licence issued after 31st March, 1993 shall not be transferred until the export obligation is discharged, sale proceeds realised and the bond redeemed by the licensing authority; after those steps the importer may use the materials for manufacture of other goods.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
