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The matter has been examined further. It has now been decided that the request for waiver of interest in case of re-export of capital goods may be considered favourably, if on clearance, such goods would not be installed, commissioned and used due to the facts that the goods were found defective or sub-standard, and therefore unfit for usage.
As regards Special Economic Zones, the administrative control would continue to be with the jurisdictional Commissioner of Customs. Further, in case of new Special Economic zone that are likely to come up in future, the administrative control shall be exercised by the jurisdictional Commissioner of Customs.
The Public Companies (Terms of Issue of Debentures and Raising of Loans with Option to Convert such Debentures or Loans into Shares) Amendment Rules, 2003
In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Export and Import Policy, 2002-2007(RE 2003), the Central Government hereby makes the following amendments in the ITC (HS) Classifications of Export and Import Items, 2002-2007 published on 31st March, 2002 as amended from time to time.
