Import exemption conditions require undertaking and record-keeping; failure permits demand for duty differential payment on demand. The substituted condition requires the importer to furnish an undertaking that imported goods (other than raw materials) will be used for the specified purpose, that accounts of goods received and consumed at the place of manufacture will be maintained as directed by the Assistant Collector of Customs, and that certified extracts evidencing receipt at the manufacturing premises will be produced within the prescribed period or any extension allowed by the Assistant Collector; failure to comply permits recovery of the duty differential between duty leviable absent the exemption and duty already paid.
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.
Import exemption conditions require undertaking and record-keeping; failure permits demand for duty differential payment on demand.
The substituted condition requires the importer to furnish an undertaking that imported goods (other than raw materials) will be used for the specified purpose, that accounts of goods received and consumed at the place of manufacture will be maintained as directed by the Assistant Collector of Customs, and that certified extracts evidencing receipt at the manufacturing premises will be produced within the prescribed period or any extension allowed by the Assistant Collector; failure to comply permits recovery of the duty differential between duty leviable absent the exemption and duty already paid.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
