Duty exemption for licence based imports - conditional on entitlement certificate, bond, customs declaration and discharge of export obligation. Materials imported against a Special Value Based Advance Licence are exempted from customs and additional duties when covered by a prescribed Value Based Duty Exemption Entitlement Certificate, a bond/legal undertaking is executed, a declaration to the customs officer is made to pay duty on demand for non compliance, and the licence and certificate are produced for debit. Imports/exports must occur at specified ports or with Collector permission, materials must be used solely to meet the export obligation which must be discharged within the certificate period, and specified excise credits, facilities and drawback cannot be availed.
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.
Duty exemption for licence based imports - conditional on entitlement certificate, bond, customs declaration and discharge of export obligation.
Materials imported against a Special Value Based Advance Licence are exempted from customs and additional duties when covered by a prescribed Value Based Duty Exemption Entitlement Certificate, a bond/legal undertaking is executed, a declaration to the customs officer is made to pay duty on demand for non compliance, and the licence and certificate are produced for debit. Imports/exports must occur at specified ports or with Collector permission, materials must be used solely to meet the export obligation which must be discharged within the certificate period, and specified excise credits, facilities and drawback cannot be availed.
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 
