Import on export basis permits duty free import of exportable capital goods upon Legal Undertaking or Bank Guarantee for export. Amendments allow importation of capital goods and related items for export without licence on execution of a Legal Undertaking or Bank Guarantee with Customs, provided the items are freely exportable under ITC (HS) Schedule II. Separately, goods (including import restricted but not prohibited items) may be imported under Customs Bond for export in freely convertible currency without licence, subject to the same free exportability requirement under ITC (HS) Schedule II.
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 on export basis permits duty free import of exportable capital goods upon Legal Undertaking or Bank Guarantee for export.
Amendments allow importation of capital goods and related items for export without licence on execution of a Legal Undertaking or Bank Guarantee with Customs, provided the items are freely exportable under ITC (HS) Schedule II. Separately, goods (including import restricted but not prohibited items) may be imported under Customs Bond for export in freely convertible currency without licence, subject to the same free exportability requirement under ITC (HS) Schedule II.
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