Remission of duty on lost, destroyed or abandoned goods

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....issioner of Customs] that any imported goods have been lost ^2[(otherwise than as a result of pilferage)] or destroyed, at any time before clearance for home consumption, the ^5A[Assistant Commissioner of Customs or Deputy Commissioner of Customs] shall remit the duty on such goods. ^3[(2) The owner of any Imported goods may, at any time before an order for clearance of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed vide Section 60 of the Finance Act, 1994 w.e.f. 13-05-1994 before it was read as, "(2) The owner of any imported goods may at any time before an order for clearance of the goods for home consumption has been made, relinquish his title to the goods and thereupon he shall not be liable to pay the duty thereon." 4.  Substituted vide Section 50 of the Finance....