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of <h1>Govt Amends Customs Exemption for Fuel-Efficient Two-Wheelers: Importers Must Maintain Records & Submit Certified Accounts</h1> Notification No. 301/86-Cus, dated April 28, 1986, issued by the Central Government under the Customs Act, 1962, amends an earlier notification regarding customs exemptions for components of fuel-efficient two-wheeled motor vehicles. The amendment replaces condition (iii) with a new requirement that importers must provide an undertaking to use the imported goods as specified, maintain detailed accounts of the goods used in manufacturing, and submit certified extracts of these accounts within three months. Failure to comply with these conditions will result in the importer paying the difference in duty that would apply without the exemption.
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