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Exemption to Specified Goods when Imported into India or Procured from a
Warehouse by a Developer of Special Economic Zone
Customs
Notification No. 82 dated 13th
August 2002
In
exercise of the powers conferred by sub-section (1) of section 25 of the Customs
Act, 1962 (52 of 1962), the Central Government, being satisfied that it is
necessary in the public interest so to do, hereby exempts goods (hereinafter
referred to as the said goods), when imported into India or procured from a
Public Warehouse or a Private Warehouse appointed or licensed, as the case may
be, under section 57 or section 58 of the said Customs Act by a developer
(hereinafter referred to as the importer) of special economic zone
for the purpose of development, operation and maintenance of special
economic zone, from the whole of the duty of customs leviable thereon under the
First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and the additional
duty, if any, leviable thereon under section 3 of the said Customs Tariff Act,
subject to the following conditions, namely:-
(i) the importer has been granted permission by
the Development Commissioner to develop, operate and maintain the special
economic zone;
(ii) the said goods have been authorised to be imported
or procured from a Public Warehouse or a Private Warehouse by a Committee headed
by the Chief Commissioner of Customs or the Chief Commissioner of Customs and
Central Excise, as the case may be, having jurisdiction over the said special
economic zone;
(iii) the said goods shall be stored in the premises appointed
or licensed as Public Warehouse or Private Warehouse, as the case may be, under
section 57 or section 58 of the said Customs Act;
(iv) the importer shall maintain proper account of
import or procurement, consumption and utilisation of the said goods and shall
submit a quarterly statement to the Commissioner of Customs or the Commissioner
of Customs and Central Excise, as the case may be, having jurisdiction over the
said special economic zone, in such Form as may be specified by him;
(v) the said goods shall not be allowed to be removed
from the special economic zone except with the permission of the Assistant
Commissioner of Customs or Deputy Commissioner of Customs or the Assistant
Commissioner of Customs and Central Excise or Deputy Commissioner of Customs and
Central Excise, as the case may be, having jurisdiction over the said special
economic zone, and on payment of applicable duty; and
(vi) the importer shall execute a bond in such Form and
for such sum as may be specified by the Commissioner of Customs or the
Commissioner of Customs and Central Excise, as the case may be, binding himself
to utilise the said goods within a period of six months or such extended period
as may be allowed by him, and if the importer fails to do so, then he shall pay,
on demand, an amount equal to the duty as leviable on the said goods along with
interest at the rate of 15 per cent per annum on the said duty from the date of
importation or procurement of the said goods till the payment of such duty.
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