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of <h1>Customs Act Update: Broader Term 'Materials' Replaces Specifics, Clarifies Duty-Free Import Conditions, Updates Transfer Provisions</h1> The Central Government has amended Notification No. 513/86-Cus. under the Customs Act, 1962, to streamline exemptions related to imported materials. Key changes include replacing specific terms like 'raw materials' and 'components' with the broader term 'materials,' and clarifying conditions for duty-free imports. Importers must declare compliance at the time of clearance and ensure materials are used for manufacturing goods supplied to specified government entities. Provisions for transferability of benefits have been updated, requiring endorsement by the licensing authority. The amendments also redefine 'materials' and specify the role of the licensing authority.
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