Customs and Central Excise amendments
Re-import of exported goods – Exemption Notification No. 94/96-Cus. grants exemption to various categories of exported goods when reimported. Now cut and polished precious and semiprecious stones exported for treatment abroad is included in the list.
Cut and polished diamonds Cut and polished diamonds when reimported after certification/grading by certain agencies are exempted. Now one more agency “Diamond Trading Company U.K.” is included in the list of grading agencies.
Exemption to EOUs – Conditions relaxed Notification No. 52/2003-Cus. dated 31-3-2003 allows exemption to goods imported by EOUs, STP and ESTP. Under the scheme certain conditions are now relaxed:
1) Goods may be transferred to other EOUs/SEZ under intimation to the proper officer - no need of permission.
2) Goods may be removed for test, repair etc under intimation to the proper officer - no permission required.
3) Exemption is now allowed for import of promotional materials like brochures, literatures, pamphlets, hoardings, catalogues and posters.
Similar changes are made in the Central Excise exemption for procurement of goods by EOUs.
Notification No. and , dated May 17, 2006