Importer undertaking requirement: mandatory account maintenance and conditional duty repayment on non-compliance. The amendment conditions the customs exemption for yarn imported for manufacture of belting on the importer furnishing a written undertaking that the goods 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 a manufacturer certified extract of such accounts will be produced within the prescribed period or an allowed extension; failure to comply renders the importer liable to pay the difference between duty leviable absent the exemption and duty already paid.
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Provisions expressly mentioned in the judgment/order text.
Importer undertaking requirement: mandatory account maintenance and conditional duty repayment on non-compliance.
The amendment conditions the customs exemption for yarn imported for manufacture of belting on the importer furnishing a written undertaking that the goods 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 a manufacturer certified extract of such accounts will be produced within the prescribed period or an allowed extension; failure to comply renders the importer liable to pay the difference between duty leviable absent the exemption and duty already paid.
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