Customs exemption for wet-leased aeroplanes limits duty by export-timing, subject to bond and re-export obligation. Exemption from customs duty is granted for aeroplanes under Heading No. 88.02 imported on a wet lease basis and not intended to be registered in India, subject to evidence at clearance and a bond that the aircraft will not be registered, will be re-exported within the declared period, and that the importer will pay the difference between full import duty and duty paid if conditions are breached; duty payable is determined by a Table prescribing percentages of import duty according to the expected period before export.
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.
Customs exemption for wet-leased aeroplanes limits duty by export-timing, subject to bond and re-export obligation.
Exemption from customs duty is granted for aeroplanes under Heading No. 88.02 imported on a wet lease basis and not intended to be registered in India, subject to evidence at clearance and a bond that the aircraft will not be registered, will be re-exported within the declared period, and that the importer will pay the difference between full import duty and duty paid if conditions are breached; duty payable is determined by a Table prescribing percentages of import duty according to the expected period before export.
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