| Date: |
18-01-1999
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| Notification No: |
Customs Circular No 1/1999
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| Issuing Authority: |
Indian Customs
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| Type: |
Circular
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| File No: |
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| Subject: |
The Customs (Amendment) Act, 1998
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The Customs (Amendment) Act, 1998
Circular No. 1 dated 18th January 1999
Section 75- A of
Customs Act, 1962 has been amended vide the Customs (Amendment), Act 1998 (No. 8
of 1999) dated 8th January, 1999. The Act received the assent of the President
on 8th January, 1999. The amendment Act has reduced the period of three months
provided in Section 75-A (1) and (2) of the Customs Act, 1962 to two months,
within which period the drawback shall be paid to exporters. Where drawback is
not paid within the reduced period of the two months, the Central Government
shall pay interest to the exporters for the delayed period. It may be clarified
that in other respects, Section 75-A of the Customs Act, 1962 remains the same.
It may also be noted that the Amendment Act applies prospectively i.e. in
respect of claims filed on or after 8.1.1999. A copy of the Customs (Amendment)
Act, 1998 in enclosed herewith for necessary action.
2. The
above amendment may kindly be brought to the notice of the field staff and trade
so that the drawback is released to the exporters within the time limit of two
months.
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