GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
Notification No. 09/2021 - Customs (N. T.)
New Delhi, the 1 st February, 2021
G.S.R………… (E). - In exercise of the powers conferred by section 156 of the Customs Act, 1962 (52 of 1962), (hereinafter referred to as the said Act), the Central Government hereby makes the following rules to amend the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017, namely: -
1. Short title and commencement. -
(1) These rules may be called the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021.
(2) They shall come into force on the 2 nd February, 2021.
2. In the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (hereinafter referred to as the said rules, in rule 3, - (i) after clause (a), the following clause shall be inserted, namely: -
'(aa) "capital goods" means goods, the value of which is capitalised in the books of account of the importer;‘;
(ii) after clause (c), the following clause shall be inserted, namely: -
'(ca) "job work" means any treatment, process or manufacture, consistent with the exemption notification undertaken by a person on goods belonging to the importer except gold, jewellery and articles thereof, and other precious metals or stones; and the term ―job worker‖ shall be construed accordingly;‘;
(iii) for clause (e), the following clause shall be substituted, namely: -
'(e) "manufacture" means the processing of raw materials or inputs by the importer in any manner that results in emergence of a new product having a distinct nature or character or use or name; and the term "manufacturer" shall be construed accordingly;‘;
Please refer to the attached file for details.
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Notification No : 09/2021 - Customs (N. T.)Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt09-2021.pdf