TaxTMI 
TaxTMI 
Regarding certain issues relating to difficulties being faced in availing/extending exemption relating to the Oil Exploration Sector
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....All Chief Commissioners of Customs & Central Excise All Chief Commissioners of Central Excise Subject: Difficulties being faced in availing exemption relating to the Oil Exploration Sector - Regarding. Sir / Madam, Representations have been received from the trade and the field formations regarding difficulties being faced in availing/extending exemption relating to the Oil Exploration Secto....
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....d to allow the imported goods to be transferred from one eligible project to another project, subject to certain safeguards to prevent any misuse of this facility. In this regard, notification No.28/2013-Customs, dated the 16thMay, 2013 amending the Condition Nos.41, 43 and 44 of notification No.12/2012-Customs, dated 17-03-2012, may be referred to for details. 2.2 Whether it is necessary to fur....
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....by the Consortium. 2.3.1 "Consortium" unlike a "Joint Venture" is not a distinct legal entity capable of importing the goods by themselves. Hence, the duty-free import facility extended to a Consortium under the said notification can be made use of only if the individual constituents of the Consortium are allowed to import. Therefore, it appears that the option to import by individual constituent....
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....Hydrocarbons, that the imported goods have been imported under a contract signed under the New Exploration Licensing Policy, and containing the name of such sub-contractor. 2.4.2 The condition (c)(i) in all the Sl. Nos. of the said notification requires that the importer should produce an EC, which should indicate that the goods have been imported under a contract entered between the Government a....