Customs exemption for drug intermediates caps ad valorem duty, subject to importer undertakings and recordkeeping. The notification exempts specified goods in Chapters 28-30 imported for manufacture of listed bulk drugs by relieving duty in excess of a capped ad valorem rate. The exemption requires an importer undertaking that the goods will be used for the stated manufacture, maintenance of accounts as directed by the Assistant Collector of Customs, production of a certified account extract within three months (or extended period), and payment on demand of any duty differential if conditions are not met. The annexed Table specifies eligible intermediates per bulk drug and the notification preserves other existing exemptions.
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 drug intermediates caps ad valorem duty, subject to importer undertakings and recordkeeping.
The notification exempts specified goods in Chapters 28-30 imported for manufacture of listed bulk drugs by relieving duty in excess of a capped ad valorem rate. The exemption requires an importer undertaking that the goods will be used for the stated manufacture, maintenance of accounts as directed by the Assistant Collector of Customs, production of a certified account extract within three months (or extended period), and payment on demand of any duty differential if conditions are not met. The annexed Table specifies eligible intermediates per bulk drug and the notification preserves other existing exemptions.
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