Dispense with practice for recovery of revenue deposit of 3000/- u/s. 42 of the Customs Act, 1962

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....red / amended vide P.N.No. 29/2007) Sub:-Dispense with practice for recovery of revenue deposit of ₹ 3000/- u/s. 42 of the Customs Act, 1962.- reg. Attention is invited to the instructions issued by the CBEC vide F.28/12/70- Cus IV dated 22.5.1970 regarding security deposit in respect of foreign going and coastal vessels under Section 42 of the Customs Act, 1962. Accordingly, the quantum o....

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....ance. v) No penalty is leviable on the person-in-charge under Section 116 for the deficiency of goods. vi) Exports goods contravening any of provision of the Customs Act have been unloaded. 3. The issue has been examined by the Board and it has been observed that the procedure for taking a deposit initially and refunding it, each time the vessel enters and departs the port, involves available....