The Central Board of Indirect Taxes and Customs (CBIC) notified extended the last date to export under Scheme ‘Export Against Supply by Nominated Agencies’.
The Board empowered under sub-section (1) of section 25 of the Customs Act, 1962, makes the amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 57/2000-Customs, dated the 8th May, 2000 which pertains to exempting gold, silver, and platinum imported under specified schemes.
In the said notification, after the third proviso, the following proviso shall be inserted, namely “Provided also that for the cases where the last date of exports falls between the 1st February, 2021 and the 30th June, 2021, the last date of exports stands extended by six months”.
In other words, the notification seeks to extend the last date of export by six months, for those cases where the last date of export falls between February 1, 2021 and June 30, 2021.
Section 25 of the Customs Act, 1962 reads “if the Central Government is satisfied that it is necessary in the public interest so to do, it may, by notification in the Official Gazette, exempt generally either absolutely or subject to such conditions (to be fulfilled before or after clearance) as may be specified in the notification goods of any specified description from the whole or any part of the duty of customs leviable thereon.”
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