Re-import of exported goods - Duty leviability explained

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....rected to say that with the enactment of the Finance Bill, 1995 on 26.5.1995 section 20 of the customs Act, 1962 stands amended so as to provide for the levy of customs duty on all re- imported goods in the same manner as goods being imported for the first time. As may be seen this is a substantial change from the hitherto existing position wherein section 20 provided for the charging of duty on s....

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....re- importation, be subjected to a customs duty calculated on the fair cost of repairs including the cost of materials used in repairs, insurance and freight charges, both ways. (This provision is in line with the hitherto existing Notification No. 204/ 76-Cus. dated 2.8.1976). 5. The goods other than the aforesaid two categories are eligible to be imported without payment of any duty. This cat....

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....cations. 6. Notification No. 98/95-Cus. dated 26.5.1995 is a specific notification for exempting goods manufactured in India and parts of such goods when re- imported into India for repairs from the duty of customs. Here also, similar conditions such as identity of goods being established; re- importation taking place within a period of three year etc. is provided. Importantly another condition....