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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 89/2017-Customs
New Delhi, the 24th November, 2017
G.S.R. (E).- 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 Customs Tariff Act, 1975 (51 of 1975), the Central Government being
satisfied that it is necessary in the public interest so to do, hereby makes the
following further amendments in the notification of the Government of India in
the Ministry of Finance (Department of Revenue),
No. 50/2017- Customs, dated the
30th June, 2017, published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June,
2017, namely:-
In the said notification, in the ANNEXURE, in Condition No.95, under the
heading “Condition”, for sub-clause (a), the following shall be substituted,
namely:-
“(a) In case of imports for a project for which certificate regarding Mega
Power Project status issued by an officer not below the rank of Joint Secretary
to the Government of India in the Ministry of Power is provisional, the importer
furnishes a security in the form of a Fixed Deposit Receipt or Bank Guarantee
from any Scheduled Bank for a term of one hundred and twenty-six months in the
name of the President of India for an amount equal to the duty of customs
payable on such imports but for this exemption, to the Deputy Commissioner of
Customs or Assistant Commissioner of Customs, as the case may be, at the time of
importation and if the importer fails to furnish the final mega power status
certificate with in a period of one hundred and twenty months from the date of
importation, the said security shall be appropriated towards duty of customs
payable on such imports but for this exemption:
Provided that in case of provisional Mega Power Projects, the security in the
form of a Fixed Deposit Receipt or Bank Guarantee may be released
proportionately as per the proportionate mega certificate issued by the said
Joint Secretary to the Government of India in the Ministry of Power;”.
(Mohit Tewari)
Under Secretary to the Government of India
[F. No.354/94/2011-TRU(Pt-1)]
Note: The principal notification
No. 50/2017-Customs, dated the 30th June,
2017 was published in the Gazette of India, Extraordinary, Part II, Section 3,
Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017 and last
amended vide notification
No. 87/2017-Customs, dated the 17th November, 2017,
published vide number G.S.R. 1430 (E), dated the 17th November, 2017.
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