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<h1>Central Government Amends Notification No. 260/92-Cus: Redefines 'Materials' and Updates Customs Tariff Exemptions Under Customs Act, 1962.</h1> The Central Government has amended Notification No. 260/92-Cus under the Customs Act, 1962, to modify the terms related to exemptions on customs tariffs. The amendments redefine 'materials' to include raw materials, components, intermediates, consumables, parts, and packing materials. The changes specify conditions for importers, including declarations at clearance and the ability to transfer imported materials if certain conditions are met. The notification outlines the criteria for transferability of licenses and introduces new entities like the Exim Bank of Japan and others to the schedule. Definitions for 'Licensing Authority' and 'material' are also revised.