Notification No. 1/2004-Cus Dated 02-01-2004

Amendments in the Cus NtfNo.52/2003 date 31/03/2003.- 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 amendments in the notification of the Government of India in the erstwhile Ministry of Finance and Company Affairs (Department of Revenue), vide No. 52/2003-Customs, dated the 31st March, 2003, namely :-

In the said notification, -

(I)in the opening paragraph, -

(a)      after clause (e), the following clause shall be inserted, namely :-

“(f)all goods specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (except those which are prohibited for import under any law for the time being in force) when imported for the purpose of trading by the trading units which were in existence prior to the 31st March, 2002 and having valid letter of permission to continue under the Export Oriented Undertaking Scheme”;

(b)      after condition (12), the following condition shall be inserted, namely :-

“(13) the unit engaged in trading shall not be allowed to, -

(i)       sell any goods so imported in the domestic tariff area or remove samples in the domestic tariff area;

(ii)      export goods through merchant exporter or through any other exporters;

(iii)     transfer the goods to other export oriented undertaking or unit in Electronic Hardware Technology Park (EHTP) or Software Technology Park (STP) or special economic zone; (iv) remove the goods outside the bonded premises for the purpose of job work;

(II)in the Explanation after clause (vii), the following shall be inserted, namely :-

“(viia) ‘merchant-exporter’ means a person engaged in trading activity and exporting goods.”*****