Importer undertaking for customs exemption: use restriction, recordkeeping, certified manufacturer receipt, and duty recovery on noncompliance. The notification substitutes a condition requiring the importer to furnish an undertaking that the imported components will be used for the specified manufacturing purpose, that an account of components received and consumed at the place of manufacture will be maintained as directed by the Assistant Collector of Customs, and that an extract of such account, certified by the manufacturer, will be produced within a permitted period; failure to comply will trigger payment of the difference between duty leviable absent the exemption and duty already paid at importation.
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.
Importer undertaking for customs exemption: use restriction, recordkeeping, certified manufacturer receipt, and duty recovery on noncompliance.
The notification substitutes a condition requiring the importer to furnish an undertaking that the imported components will be used for the specified manufacturing purpose, that an account of components received and consumed at the place of manufacture will be maintained as directed by the Assistant Collector of Customs, and that an extract of such account, certified by the manufacturer, will be produced within a permitted period; failure to comply will trigger payment of the difference between duty leviable absent the exemption and duty already paid at importation.
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 
