TaxTMI 
TaxTMI 
Regarding certain issues relating to difficulties being faced in availing/extending exemption relating to the Oil Exploration Sector
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....ay, 2013 To, All Chief Commissioners of Customs 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 ava....
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....s). 2.1.2 As a measure of trade facilitation, it has been decided 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 16^thMay, 2013 amending the Condition Nos.41, 43 and 44 of notification No.12/2012-Customs, dated 17-03-2012, ....
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....s under the aforesaid exemption even though the contract has been signed 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....
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....ion of the exemption, the importer is required to produce a certificate from DG, 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 ....