News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
From the Courts »
 How investing in NPS can help you save tax
 Barnala Steel Industries Ltd., Village Vehlana, Meerut Road, Muzaffarnagar. Vs. JCIT, Range-2, Muzaffarnagar.
 Athena Energy Venture Pvt. Ltd.,Second Floor, Vijaya Building, Vs. DCIT Circle – 2 (1) New Delhi
 Balwant Singh Bindra, Prop. M/s Bindra Tyres, Shop No.178, Janta Market, Rani Jhansi Road, Jhandewalan, New Delhi. Vs. ITO, Ward-63(4), New Delhi.
 Seema Jain 12, Dayanand Vihar Delhi Vs. ACIT Circle – 59 (1) New Delhi
 Boutique Hotels India (P) Ltd vs. ACIT (ITAT Delhi)
 PCIT vs. JSW Steel Ltd (Bombay High Court)
 Paresh Nathalal Chauhan vs. State Of Gujarat (Gujarat High Court)
 Administrator vs. Swarn Theater (Supreme Court)
 Gujarat Industrial Research and Development, Sayajigunj, Vadodara
 Security Printing and Minting Corporation of India Limited, Nashik Road, Maharashtra

Makes further amendments to Notification no. 157/90-Customs dated 28th March, 1990 regarding temporary admission under the ATA Carnet
October, 14th 2016
                 [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. 58/2016-Customs

                                                              New Delhi, the 5th October, 2016



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. 157/1990-Customs, dated the 28th March, 1990 published in the Gazette of
India, Extraordinary, vide number G.S.R. 405 (E), dated the 28th March, 1990 (hereinafter
referred to as the said notification), namely:-
2. In the said notification, in the first paragraph, - (a) in the opening portion, the words "or Schedule III" shall be omitted; (b) condition (1) shall be omitted; (c) condition (5) shall be omitted. 3. After the first paragraph, the following shall be inserted, namely:- "1A. In the event of failure to export the goods within the period specified in condition (4) of paragraph 1, the Federation and the importer shall, jointly and severally be liable to pay the duties of customs leviable on the goods as on the date of import, along with applicable interest: Provided that the liability of the Federation shall not exceed the amount of the duties of customs by more than ten per cent: Provided further that the Federation shall not be liable to pay the customs duty in cases where the said goods are sold in exhibitions or fairs or otherwise disposed of in India in accordance with any law for the time being in force applicable to such goods and on payment of the duties of customs which are payable as on the date of import in respect of such goods, along with applicable interest." 4. In Schedule II, - (a) in serial number 5, for the words, "an official of", the words "an official or" shall be substituted; (b) after serial number 5, the following serial numbers shall be inserted:- "6. Display or demonstration before any Department of the Central Government or a State Government or a Union territory Administration. 7. Meeting, conference or congress, by whatever name called, organised by any company or organisation." 5. In the said notification, Schedule III and the entries relating thereto shall be omitted. [ F. No.18000/1/2015- OSD (ICD)] (Kshitendra Verma) Under Secretary to the Government of India Note: The principal notification No.157/1990-Customs, dated the 28th March, 1990, was published in the Gazette of India, Extraordinary, vide G.S.R. 405(E), dated the 28th March, 1990 and was last amended by notification No.55/2007-Customs, dated the 12th April, 2007, published vide G.S.R. 287(E), dated the 12th April, 2007.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting