Customs amendment to specified goods imported for display

The Dollar Business Bureau

The Customs dept of India has issued a notification via No.58/2016-Customs dated 05/10/2016 regarding exemption to specified goods used for display or use at any specified event such as meetings, exhibitions, fairs or similar show or display.

The earlier notification No.157/1990-Customs, dated 28/03/1990 had  condition 1 which says, ‘the event specified in Schedule II is being held in public interest and is sponsored or approved by the Government of India or the India Trade Promotion Organisation”, which stands omitted in the present notification.

Similarly condition 5 in the same notification which says, “in the event of failure to export the goods within the period specified in condition (4), the customs, duty levi-able on the goods as on the date of clearance shall be paid by the Federation”, too stands omitted in the present amendment.