Re-import of Indian origin goods even for re-processing, re-conditioning, etc

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.... reprocessing, refining, remaking or similar process. As may be seen the new notification considerable enlarges the scope of processes carried out for the purpose of re-export of re-imported goods of Indian origin. New notification provides for due accountal of the goods during such processes as well as it provides for exemption of duty on loss of quantity of re-imported goods, if any, during such process. 2. The new notification No. 158/95-Customs dated 14.11.95 basically contains the following situations- (1) it exempts the goods manufactured in India and parts of such goods whether of Indian or foreign manufacture which were earlier exported from India re-imported into India for the purpose of repair or for reconditioning, from the le....

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....t exceeding period into exceeding a further period of six months as the Commissioner of Customs may allow; (iii) The Assistant Commissioner of Customs is satisfied as regards identity of the goods. (iv) the importer executes a bond of the effect that- (a) such processes shall be carried out in a factory under Central Excise control following the procedure laid down under rule 173 MM of Central Excise Rules, 1944 or in a customs bond u/s 65 of the CustomsAct,1962. (b) he shall maintain a due amount of the said re-imported goods and shall produce it duty certified by the officer of Central Excise or Customs. (c) in case any waste or scrap arises during such process either the same is to be destroyed before the officer, of Central Ex....