Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TDS :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: VAT RATES :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Latest Circulars »
 RBI-Exim Bank's GoI supported Line of Credit of USD 35.00 million to the Government of the Republic of Guinea
 RBI-Amendment to Master Direction on Know Your Customer
 Reserve Bank of India Act, 1934 – Section 42(1A) Withdrawal of the Incremental CRR
 RBI-Transcript of Statement made by Shri R. Gandhi, Deputy Governor
 Requirement of customer due diligence and need for maintenance of records
 Card Not Present transactions – Relaxation in Additional Factor of Authentication for payments upto ₹ 2000/- for card network provided authentication solutions
 Auction of Government of India Dated Securities December 05, 2016
 Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on December 05, 2016)
 RBI-Investment under PIS in M/s Laurus Labs Limited by FIIs/FPIs upto 49 per cent and NRIs upto 24 per cent
 RBI-Issuance of 35 days Cash Management Bills under Market Stabilisation Scheme (MSS)
 RBI-Information from Unauthenticated Sources – Advisory to banks

Seeks to amend notification No. 12/2012, dated the 17th March, 2012 so as to allow transfer of goods imported for oil exploration from one eligible project to another.
May, 18th 2013
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,
SECTION 3, SUB-SECTION (i)]

                                GOVERNMENT OF INDIA
                                 MINISTRY OF FINANCE
                              (DEPARTMENT OF REVENUE)

                                    NOTIFICATION
                                New Delhi, the 16th May, 2013
                                   No. 28 /2013-Customs

  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, 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. 12/2012-Customs, dated the 17th March,2012, published in the Gazette of India,
Extraordinary, Part II, Section 3, Sub-section (i),vide G.S.R.185 (E), dated the
17th March,2012, namely:-

In the said notification, in the ANNEXURE,-

(I) against Condition No.41, in clause (c), in sub clause (iv), after the proviso, the following
shall be inserted, namely:-




       "(d) where the goods so imported by the licensee or a sub-contractor of the licensee
       are sought to be transferred, the importer produces to the Deputy Commissioner of
       Customs or the Assistant Commissioner of Customs, as the case may be, at the time of
       such transfer, the following, namely:-

               (i) a certificate from a duly authorised officer of the Directorate General of
               Hydro Carbons in the Ministry of Petroleum and Natural Gas, Government of
               India, to the effect that the said goods may be transferred in the name of
               another sub-contractor of the licensee or another licensee or a sub-contractor of
               such licensee (hereinafter referred to as the "transferee") and that the said
               goods are required for petroleum operations to be undertaken under petroleum
               exploration or mining leases referred to in clause (a);

                (ii) undertaking from the transferee to comply with all the conditions of the
               notification, including that he shall pay duty, fine or penalty that may become
               payable, if any of the conditions of the notification are not complied with by
               himself, where he is the licensee or by the licensee of the transferee, where
               such transferee is a sub-contractor;

                (iii) a certificate, in the case of a petroleum exploration license or mining
               lease, as the case may be, issued or renewed after the 1st of April, 1999, by the
               Government of India or any State Government on nomination basis, that no
               foreign exchange remittance is made for the transfer of such goods undertaken
               by the transferee on behalf of the licensee or lessee, as the case may be:

               Provided that nothing contained in this sub-clause shall apply if such transferee
               is an Indian Company or Companies.";

(II) against Condition No.43, in clause (c), in sub clause (iv), after the proviso, the following
shall be inserted, namely:-

       "(d) where the goods so imported by the contractor or a sub-contractor of the
       contractor are sought to be transferred, the importer produces to the Deputy
       Commissioner of Customs or the Assistant Commissioner of Customs, as the case
       may be, at the time of such transfer, the following, namely:-

               (i) a certificate from a duly authorised officer of the Directorate General of
               Hydro Carbons in the Ministry of Petroleum and Natural Gas, Government of
               India, to the effect that the said goods may be transferred in the name of
               another sub-contractor of the contractor or another contractor or a sub-
               contractor of such contractor (hereinafter referred to as the "transferee") and
               that the said goods are required for petroleum operations to be undertaken
               under a contract referred to in clause (a);

                (ii) undertaking from the transferee to comply with all the conditions of the
               notification, including that he shall pay duty, fine or penalty that may become
               payable, if any of the conditions of the notification are not complied with by
               himself, where he is the contractor or by the contractor of the transferee, where
               such transferee is a sub-contractor;

                (iii) a certificate, in the case of a contract entered into by the Government of
               India and a Foreign Company or Companies or, the Government of India and a
               consortium of an Indian Company or Companies and a Foreign Company or
               Companies, that no foreign exchange remittance is made for the transfer of
               such goods undertaken by the transferee on behalf of the Foreign Company or
               Companies, as the case may be:

                       Provided that nothing contained in this sub-clause shall apply if such
               transferee is an Indian Company or Companies.";




(III) against Condition No.44, in clause (c), in sub clause (iv), after the proviso, the following
shall be inserted, namely:-

       "(d) where the goods so imported by the contractor or a sub-contractor of the
       contractor are sought to be transferred, the importer produces to the Deputy
       Commissioner of Customs or the Assistant Commissioner of Customs, as the case
       may be, at the time of such transfer, the following, namely:-

               (i) a certificate from a duly authorised officer of the Directorate General of
               Hydro Carbons in the Ministry of Petroleum and Natural Gas, Government of
               India, to the effect that the said goods may be transferred in the name of
               another sub-contractor of the contractor or another contractor or a sub-
               contractor of such contractor (hereinafter referred to as the "transferee") and
               that the said goods are required for such petroleum operations or coal bed
               methane operations, as the case may be, to be undertaken under a contract
               referred to in clause (a);

                (ii) undertaking from the transferee to comply with all the conditions of the
               notification, including that he shall pay duty, fine or penalty that may become
               payable, if any of the conditions of the notification are not complied with by
               himself, where he is the contractor or by the contractor of the transferee, where
               such transferee is a sub-contractor;

                (iii) a certificate, in the case of a contract entered into by the Government of
               India and a Foreign Company or Companies or, the Government of India and a
               consortium of an Indian Company or Companies and a Foreign Company or
               Companies, that no foreign exchange remittance is made for the transfer of
               such goods undertaken by the transferee on behalf of the Foreign Company or
               Companies, as the case may be:
                     Provided that nothing contained in this sub-clause shall apply if such
             transferee is an Indian Company or Companies.".




                                                                     [F. No. B1/20/2013-TRU]




                                                                          (Raj Kumar Digvijay)
                                                   Under Secretary to the Government of India




Note.- The principal notification No. 12/2012-Customs, dated the 17th March, 2012 was
       published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide
       number G.S.R. 185(E), dated the 17th March, 2012 and last amended vide notification
       No-. 27/2013-Customs, dated the 10th May, 2013 published in the Gazette of India,
       Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.301 (E), dated the
       10th May, 2013.



           
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions