MANU/CUST/0093/2016

Ministry : Ministry of Finance

Department/Board : CBEC Customs

Notification No. : 58/2016-Customs

Date : 05.10.2016

Notification/ Circulars Referred : Notification No.55/2007-Customs, dated the 12th April, 2007 MANU/CUST/0088/2007

Citing Reference:
Notification No.55/2007-Customs, dated the 12th April, 2007 MANU/CUST/0088/2007 Referred

Amendment in notification number 157/1990-Customs, dated the 28th March, 1990

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 makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 157/1990-Customs, dated the 28th March, 1990 published in the Gazette of India, Extraordinary, vide number G.S.R. 405 (E), dated the 28th March, 1990 (hereinafter referred to as the said notification), namely:-

2. In the said notification, in the first paragraph, -

(a) in the opening portion, the words "or Schedule III" shall be omitted;

(b) condition (1) shall be omitted;

3. After the first paragraph, the following shall be inserted, namely:-

"1A. In the event of failure to export the goods within the period specified in condition (4) of paragraph 1, the Federation and the importer shall, jointly and severally be liable to pay the duties of customs leviable on the goods as on the date of import, along with applicable interest:

Provided that the liability of the Federation shall not exceed the amount of the duties of customs by more than ten per cent:

Provided further that the Federation shall not be liable to pay the customs duty in cas........