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The prohibition shall not be applicable on the import of dry processed pet food containing the ingredient of meat and meat products from Avian species, pig and product of animal origin (from birds) intended for use in animal feeding.
In exercise of the powers conferred by sub-section (1B) of section 129A of the Customs Act, 1962 (52 of 1962), the Board hereby makes the following further amendments in the notification of Government of India in the Ministry of Finance, Department of Revenue, No. 39/2005-Customs (N.T.), dated the 13th May, 2005, for the specific purpose of reviewing the following Orders-In-Original, namely.
FBT is not payable by a trust, fund or institution if its income is exempt under section 10(23C) or it is registered under section 12AA of the Income-tax Act. Therefore, a company registered under section 25 of the Companies Act will also not be liable to FBT if its income is exempt under section 10(23C) or such company is registered under section 12AA of the Income-tax Act.
