1997 (12) TMI 451

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.... The Collector of Customs (Appeals), Bombay, after analysing the amendment made in the original Notification No. 162/90-Cus., dated 30-3-1990 held that the exemption with regard to the goods imported under bill of entry dated 27-7-1992 had to be determined with reference to the effective duty of customs as on the date of the bill of entry i.e. 27-7-1992. 2. The matter was fixed for hearing on 23-12-1997. The appellants have prayed for decision on merits. In their memo of appeal, they have submitted that the import licence was issued to them on 23-9-1992 and that the import licence was valid for the goods already arrived/shipped. They have further submitted that they had cleared the goods on 4-11-1992. On these grounds, they had pleade....

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....be determined in the light of the amendment made on 27-8-1992. Their main argument is that the import licence dated 23-9-1992 was valid for the goods already arrived/shipped. 5. We find that for exemption from the payment of customs duty, the exemption notification in exercise of the powers conferred by sub-section (1) of Section 25 of the Customs Act, 1962 had been issued. The import licence is with regard to the conditions under which the imports are allowed. The import licence is not an exemption notification. Exemption from the payment of customs duty had to be regulated in terms of the valid exemption notification as on the relevant date. For the purposes of the rate of customs duty, the relevant date is the date of the bill of e....