New entries in customs duty exemption notification: 5% duty on aircraft parts, exemption for RAMA buoys till 2026. Re-export & bond for exemption.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption from Customs Duty: Notification amends notification No. 50/2017-Customs to insert new entries 544A and 613 in the Table, granting concessional 5% customs duty on components/parts prescribed in OEM manuals for aircraft repair/maintenance, and exempting equipment/buoys for RAMA programme from customs duty till 31.07.2026, subject to conditions. It also inserts Condition 118 in Annexure, prescribing re-export obligation and furnishing bond for availing exemption under entry 613. The notification comes into force from 15.07.2024.....