P.N. : 22/2002 Appraising general

Imp. Supp. No : 17

Exp. Supp. No : 17

PUBLIC NOTICE No. 22/2002 Date : 26.02.2002.

BUDGET INSTRUCTION NO 22/2002
Attention of all the Trade Members, Importers, Exporters and CHAs is invited to the fact that the Union Budget for the year 2002-2003 is likely to be presented at 11:00 hrs. on 28.02.2002.

In terms of Section 4 of the Provisional Collection of Taxes Act, 1931, the provisions of the Finance Bill will take effect from the midnight of 28.02.2002/01.03.2002.

The rate of duty and tariff valuation of imported goods is governed by Section 15 f the Customs Act which stipulates that the same shall be as in force on the date on which the Bill of Entry is presented or the date of entry inwards, whichever is later. Since date of entry inwards is relevant for determination of rate of duty under Section 15 of the Customs Act, 1962 in respect of prior Bills of Entry, no entry inwards to the vessels shall be permitted on 28.02.2002. In case of any hardship/difficulty, Commissioner of Customs (Import) may be contacted. For the sake of uniformity, no notings of the Bills of Entry will be made on 28th February, 2002 at New Custom House. Similarly no clearances will be allowed from any bonded warehouse under Section 68 of the Customs Act, 1962 for ex-bonding the warehoused goods on 28.02.2002. Emergency arrangements for clearance of goods in pipeline etc. will be done as was being followed earlier for clearance between 5:00 PM and midnight on the Budget day, by D.C./A.C.- Oil Unit and D.C./A.C.- Bond Deptt. It is, however made clear that noting of Bills of Entry, granting on entry inward to the vessels and ex-bonding of warehoused goods shall not be allowed after 18:00 hours on 27.02.2002 onwards till midnight of 28.02.2002/01.03.2002.

All the members of trade and importers are hereby informed and requested to take note of it.

M.C. THAKUR
COMMISSIONER OF CUSTOMS(IMPORT)
NEW CUSTOM HOUSE,
MUMBAI.

Issued from F.No. S/26 – 41/2002 A(G).

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