Seeks to amend notification No. 50/2017-Customs to give effect to the recommendation of the 53rd GST Council meeting.

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.... In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on the recommendations of the Council, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Gov....

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....ual (SPM) of the OEMs, when imported into India for servicing, repair, maintenance or overhauling, subject to fulfilling respective conditions, the condition number of which is mentioned in the corresponding entry in column (6) against the serial number 536, 538 or 544. - 5% -"; (2) after S. No. 612 and the entries relating thereto, the following S. No. and entries shall be inser....

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....f Earth Sciences recommending the grant of this exemption and that the goods are required for the specified purpose; and (b) the importer, by the execution of bond, in such form and for such sum as may be specified by the Principal Commissioner or Commissioner of Customs, binds himself,- (i) to re-export the goods within a period of two years from the date of import, which may be exten....