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of <h1>Amendment Limits Import Value of Drilling Rig Spares to 10% of Total C.I.F. Value Annually for Water Projects</h1> The Central Government issued an amendment to a previous customs notification regarding the import of drilling rigs and their spares for a rural water supply project. Under this amendment, the condition specifies that the C.I.F. (Cost, Insurance, and Freight) value of the imported spares in a financial year must not exceed 10 percent of the total C.I.F. value of the drilling rigs imported under the notification. This amendment is made under the powers granted by the Customs Act, 1962, and is deemed necessary in the public interest.
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