Customs exemption conditions clarified: materials defined, transferability limited, and importer liable to pay duty on non-compliance. The notification narrows exemption scope by substituting 'materials' for 'said goods' and defining materials to include raw inputs, specified spares and packing. It requires production of proof at clearance and inserts a mandatory declaration by the importer to pay, on demand, duty leviable but for the exemption where notification conditions are not met. Transferability of benefit to non-licencees is allowed only upon Licensing Authority endorsement after discharge of obligations, sale proceeds realisation and bond redemption, and is precluded where input-stage credit was availed or licences predate the cutoff; a proviso permits transfer post-redemption if input credit was not claimed.
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Provisions expressly mentioned in the judgment/order text.
Customs exemption conditions clarified: materials defined, transferability limited, and importer liable to pay duty on non-compliance.
The notification narrows exemption scope by substituting "materials" for "said goods" and defining materials to include raw inputs, specified spares and packing. It requires production of proof at clearance and inserts a mandatory declaration by the importer to pay, on demand, duty leviable but for the exemption where notification conditions are not met. Transferability of benefit to non-licencees is allowed only upon Licensing Authority endorsement after discharge of obligations, sale proceeds realisation and bond redemption, and is precluded where input-stage credit was availed or licences predate the cutoff; a proviso permits transfer post-redemption if input credit was not claimed.
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