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Core Purpose

Notification under the proviso to sub-section (1) of Section 65 of the Customs Act, 1962 specifying manufacturing processes not permitted in a customs bonded warehouse.

Detailed Summary

The Ministry of Finance, Department of Revenue (Central Board of Indirect Taxes and Customs) issued Notification No. 86/2024-Customs (N.T.), S.O. 5446(E), dated 16th December 2024, under the proviso to sub-section (1) of Section 65 of the Customs Act, 1962 (52 of 1962), specifying that manufacturing processes and other operations relating to goods imported for solar power generation projects which supply electricity shall not be permitted in a warehouse, with the restriction applying only where electricity results from the manufacturing process on the warehoused goods under section 65; the notification came into force with effect from 17th December 2024 and was signed by Megha Bansal, Under Secretary (D. No. CBIC-170484/11/2024-LC).

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-16122024-259448 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 5039] NEW DELHI, MONDAY, DECEMBER 16, 2024/AGRAHAYANA 25, 1946 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 16th December, 2024 No. 86/2024-Customs (N.T.) S.O. 5446(E). - In exercise of the powers conferred by proviso to sub - section (1) of Section 65 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby specify the manufacturing processes and other operations in relation to a class of goods that shall not be permitted in a warehouse, as mentioned in column (2) of the table below:- Table Sl. No. | Manufacturing processes and other operations in relation to a class of goods in a warehouse (1) | (2) 1. | Goods imported for solar power generation projects which supply electricity. 8147 GI/2024 (1) 2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II-SEC. 3(ii)] Explanation.- For the purpose of Sl.No.1, the restriction is applicable only when electricity is resulting from the manufacturing processes and other operations in relation to the warehoused goods under section 65 of Customs Act 1962(52 of 1962). 2. The notification shall come into force with effect from the 17th December, 2024. [D. No. CBIC-170484/11/2024-LC] MEGHA BANSAL, Under Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. SARVESH KUMAR Digitally signed by SARMESH KUMAR SRIVASTAVA

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