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Seeks to amend notification No. 84/97-Customs, dated the 11th November, 1997 so as to allow transfer/sale/re-export goods imported prior to 1.3.2008 for use in projects financed by the UN or an international organization.
July, 26th 2014
[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
                                      No. 22/2014-Customs
                                                                    New Delhi, the 11th July, 2014

        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) read with sub-section (4) of section 68 of the Finance (No.2)
Act, 1996 (33 of 1996), 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. 84/97-Customs,
dated the 11th November, 1997 which was published in the Gazette of India, Extraordinary, vide
G.S.R. 645 (E) dated the 11th November, 1997, namely: -

       In the said notification, after the proviso, the following shall be inserted, namely:-

"2. Where the goods are imported prior to the 1st March, 2008, the importer may-




   (a) transfer the goods to a new project subject to the condition that the importer produces
       before the Assistant Commissioner of Customs or Deputy Commissioner of Customs, as
       the case may be, having jurisdiction over the port of import, a certificate from the officer
       concerned of the Central Government, State Government or Union territory
       Administration, as the case may be, that the goods are no longer required for the project
       and a declaration from the United Nations, the World Bank, the Asian Development
       Bank or any other international organization listed in the Annexure to the said
       notification that the said goods are required for the said new project which has duly been
       approved by the Government of India; or
   (b) re-export the goods when the goods are no longer required for the existing project subject
       to the condition that the identity of the goods is established and no export incentive is
       claimed against such re-export; or
   (c) pay the duty of customs which would have been payable but for the exemption contained
       herein on the depreciated value of the goods subject to the condition that the importer
       produces before the Assistant Commissioner of Customs or Deputy Commissioner of
       Customs, as the case may be, having jurisdiction over the port of import, a certificate
       from the officer concerned of the Central Government, State Government or Union
       territory Administration, as the case may be, that the goods are no longer required for the
       project. The depreciated value of the goods shall be equal to the original value of the
       goods at the time of import reduced by the percentage points calculated by straight line
       method as specified below for each quarter of a year or part thereof from the date of
       clearance of the goods, namely:-
                (i) for each quarter in the first year at the rate of 4 per cent;
                (ii) for each quarter in the second year at the rate of 3 per cent;
                (iii) for each quarter in the third year at the rate of 2.5 per cent; and
                (iv) for each quarter in the fourth year and subsequent years at the rate of 2 per
                      cent,

                subject to the maximum of 70%.".

                                                                       [F. No.334/15/2014-TRU]






                                                                               (Pramod Kumar)
                                                     Under Secretary to the Government of India

Note.- The principal notification No. 84/97-Customs, dated the 11th November, 1997 was
published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number
G.S.R. 645(E) dated the 11th November, 1997 and last amended by notification No. 24/2008-
Customs, dated the 1st March, 2008, published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub-section (i) vide number G.S.R. 123(E) dated the 1st March, 2008.

 
 
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