Notification No. 65/2011-Cus Dated 21/07/2011

Amendment in Notification No. 21/2002-Cus dated 1/3/2002 regarding Effective rate of duty on specific goods falling within chapter 1 to 98-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), the Central Government, on 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. 21/2002- Customs, dated the 1st March, 2002, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 118(E), dated the 1st March, 2002, namely:-

In the said notification, in the ANNEXURE, in Condition No. 86, after clause (a), the following clause shall be inserted, namely:-

 

(aa) In case of imports for a project for which the 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 from any Scheduled Bank for a term of thirty six months or more 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 within a period of thirty six months from the date of importation, the said security shall be appropriated towards duty of customs payable on such imports but for this exemption..

 

 

F.No. 354/94/2011-TRU

 

(Sanjeev Kumar Singh)

Under Secretary to the Government of India

 

Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 118(E), dated the 1st March, 2002 and was last amended by notification No. 63/2011 -Customs, dated the 19th July, 2011 which was published in the Gazette of India, Extraordinary vide number G.S.R. 549(E), dated the 19th July, 2011.