The Central Board of Indirect Taxes and Customs (“CBIC”) has issued a Notification No. 60/2018 – Customs dated September 11, 2018 which stated that exemption in respect of specified goods manufactured in India and reimported into India for repairs or reconditioning subject to conditions; Said goods shall include printers, fax machines, automatic data processing machines, radar apparatus, projectors, colour TVs, Hearing aids, etc; Prescribes that, exemption shall be available subject to reimportation taking place within 7 years (10 years in case of Nepal and Bhutan) from date of exportation and re-exportation within one year; Further, requires that AC/DC should be satisfied as regards identity of goods and importers shall execute a requisite bond; Consequently, amends Notification No. 158/95-Customs dated November 14, 1995.
The relevant notifications can be accessed at: Notification No. 60/2018 – Customs