clarification on exemption of Liquefied Natural Gas (LNG) for SEZ
Friday, February 17, 2017     Category : Indian Budget 2016-17

 

Customs duty tariff rate changes as per Indian Budget 2017-18
Central Excise Duty changes as per Indian Budget 2017-18
Service Tax rate Changes under Indian Budget 2017-18

(Updating soon after Budget 2017-18 on 1st February,2017 under text format and pdf format)



clarification on exemption of Liquefied Natural Gas (LNG) for SEZBudget 2016-17 changes in customs import duty tariff,excise duty and service tax

Indian Union Budget 2016-2017, changes in import customs tax tariff, chapter wise

Indian Budget 2016-17, Excise duty tariff changes, chapter wise

Changes in Service Tax as per Budget 2016-17


Budget 2016-17 clarification on exemption of Liquefied Natural Gas (LNG) for SEZ

 

According to Budget 2016-17,

S.No.138A of notification No.12/2012-Customs, dated 17.03.2012 exempts Liquefied Natural Gas (LNG) imported for consumption in the C2-C3 Plant of M/s Oil and Natural Gas Corporation Limited located in the Dahej SEZ [hereinafter referred to as the SEZ unit] for the purposes of authorized operations in the SEZ unit subject to the condition [No.8A] that the importer produces a certificate from the jurisdictional Specified Officer of the SEZ unit certifying that the quantity of LNG for which exemption is being claimed has actually been consumed in terms of equivalent quantity by the SEZ unit for the purposes of authorized operations during the preceding month. In this context, references have been received regarding the scope of the phrase ‚Äěpreceding month?. In this regard, it is clarified that S.No.138A of notification No.12/2012-Customs dated 17.03.2012 seeks to exempt LNG with reference to the consumption of an equivalent quantity for authorized operations in the SEZ unit during any one of the preceding months against which no duty free import has been claimed by the SEZ under the said S.No.138A and that the expression ‚Äěpreceding month? shall be construed accordingly.

 

 

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