Re-import as per conditions under Notfn 241/82 exempts from import duty and IGST
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Customs notification number 241/82 dt. 04.11.82 provides exemption of import duty to goods [on their re-import] not produced or manufactured in India and on which the duty of customs leviable has been paid at the time of their importation into India and which were exported out of India for the execution of a contract approved by the Reserve Bank of India in connection with any commercial and industrial (including constructional) activities.
In the case of goods on which any alterations, renovations, additions or repairs have been executed subsequent to their export, IGST will be payable on the value equal to the cost of such alterations, renovations, additions or repairs while the goods were abroad.
The above notification 241/82-Customs, dated 04.11.1982 also provides IGST exemption as per GST Law 2017.
241/82-Customs, dated 04.11.1982 is valid when introduction of GST in India on July 01, 2017 for exemption of IGST on imports.
Click here to read complete extract of customs notification No:241/82 dt 04.11.1982 Customs notification number 241/82 dt. 04.11.82
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