Amends notifications No. 55/2001-Cus, dated the 16th May, 2001, No. 41/1999-Customs, dated the 28th April, 1999, No. 52/2003-Customs, dated the 31st March, 2003
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Customs exemption amendments update eligible entities, replenishment authorisations, FOB-based benefit caps and NFE-based exit relief.
Amendments add an eligible laboratory to a customs exemption, revise benefit rates for rhodium finish and silver jewellery as percentages of preceding year FOB exports and substitute "Replenishment Licence" with "Replenishment Authorisation" with updated Handbook cross references; they also permit one time clearance or debonding under Advance Authorization on payment of duty where a unit exits after meeting positive Net Foreign Exchange (NFE) criteria and add a definition and calculation method for NFE.