Time limit for Re-importation from Nepal Extended to 10 years
NOTIFICATION No. 158/95-Cus dated November 14, 1995 as amended provides that goods manufactured in India and parts of such goods whether of Indian or foreign manufacture and re-imported into India for repairs or for reconditioning, are exempt from the whole of basic customs duty and additional duty of customs leviable under Section 3(5) of Customs Tariff Act, 1975 subject to one of the conditions amongst others viz., that such re-importation takes place within 3 years from the date of exportation.
Now by way of an amendment, a proviso is added to the said condition which allows re-importation to take place within 10 years from the date of exportation in case of Nepal. Will somebody in the Board answer as to why the deadline for re-importation is extended from 3 years to 10 years in case of Nepal? Who is benefiting from this extended generosity?
Notification No. , Dated: March 16, 2010