Customs (CBIC) issued a notification in Regard to the exemption of materials being imported into India against a valid Advanced, which is issued by the Regional Authority from the whole of the duty of customs, the additional duty, integrated tax, goods, and service tax, compensation cess, safeguard duty, countervailing duty, and the anti-dumping duty leviable thereon subject to certain conditions.
The notification states the following –
- That the said authorisation is produced before the proper officer of customs at the time of clearance for the debit of the quantity and value of imports.
- That the said authorisation is issued with respect to Standard Input Output Norms (SION) fixed and bears the following, namely –