https://www.taxtmi.com/notifications?id=120454 The amendment creates an exemption for aircraft, aircraft engines and parts imported under specified Schedule II transactions, granting nil customs duty subject to Condition No. 102. That condition requires the importer to execute a bond to: pay integrated tax on the service element if applicable; refrain from selling or parting with the goods without prior Customs permission; re-export the goods within three months after the supply period; and pay on demand integrated tax that would have been payable in case of non-compliance. The amendment is given retrospective effect with a refund safeguard. en-us Sat, 08 Jul 2017 00:00:00 +0530 Fri, 06 Sep 2024 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=120454 The amendment creates an exemption for aircraft, aircraft engines and parts imported under specified Schedule II transactions, granting nil customs duty subject to Condition No. 102. That condition requires the importer to execute a bond to: pay integrated tax on the service element if applicable; refrain from selling or parting with the goods without prior Customs permission; re-export the goods within three months after the supply period; and pay on demand integrated tax that would have been payable in case of non-compliance. The amendment is given retrospective effect with a refund safeguard. Notifications Customs Sat, 08 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/notifications?id=120454