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Amendments in Various Customs Notifications
Customs Notification No. 116 dated 28th October 2002
In exercise of the power conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), specified in column (2) of the Table annexed hereto, shall be amended or further amended, as the case may be, in the manner specified in the corresponding entry in column (3) of the said Table, namely:-
Table
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Sl. No. |
Notification No. & date |
Amendment |
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(1) |
(2) |
(3) |
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1. |
111/95-Customs dated the 5th June 1995 |
In the said notification, in paragraph 2
(i) In conditions (3), for the second proviso, the following provisos shall be substituted, namely:
�Provided further that where a sick unit notified by the Board for Industrial and Financial Reconstruction (BIRF) is subsequently taken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license.
Provided also that export obligation of a particular block may be set off by the excess exports made in the said preceding block(s)�:
In condition (8), in the proviso, for the words and figures, �of CIF value not less than Rs. 100 crores.� the words and figures �having overall export obligation period of 12 years.� shall be substituted; |
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2. |
29/97-Customs dated the 1st April 1997 |
In the said notification, in paragraph 2
(i) In conditions (2), for the second proviso, the following provisos shall be substituted, namely:
�Provided further that where a sick unit notified by the Board for Industrial and Financial Reconstruction (BIRF) is subsequently taken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license.
Provided also that export obligation of a particular block may be set off by the excess exports made in the said preceding block(s)�:
In condition (7), in the proviso, for the words and figures, �of CIF value not less than Rs. 100 crores.� the words and figures �having overall export obligation period of 12 years.� shall be substituted; |
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3. |
49/2000-Customs dated the 27th April 2000 |
In the said notification, in paragraph 2
(i) In conditions (2), for the second proviso, the following provisos shall be substituted, namely:
�Provided further that where a sick unit notified by the Board for Industrial and Financial Reconstruction (BIRF) is subsequently taken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license.
Provided also that export obligation of a particular block may be set off by the excess exports made in the said preceding block(s)�:
In condition (6), in the proviso, for the words and figures, �of CIF value not less than Rs. 100 crores.� the words and figures �having overall export obligation period of 12 years.� shall be substituted; |
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4. |
44/2002-Customs dated the 19th April 2002 |
In the said notification, in paragraph 2
(a) In conditions (2), -
(i) In the first proviso, for the words and figures �not less than Rs. 100 crores� the words and figures �not less than Rs. 100 crores or where the license is issued to Units in the agri export zones as may be notified by Director General of Foreign Trade in the Ministry of Commerce and Industry,� shall be substituted;
(ii) for the second proviso, the following provisos shall be substituted, namely:
�Provided further that where a sick unit notified by the Board for Industrial and Financial Reconstruction (BIRF) is subsequently taken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license.
Provided also that export obligation of particular block may be set off by the excess exports made in the said preceding block(s)�:
In condition (5), in the proviso, for the words and figures, �of CIF value of license is not less than Rs. 100 crores.� the words and figures �in respect of license having overall export obligation period of 12 years.� shall be substituted; |
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