IGST and import duty exemption for reimport after reprocessing, refining, remaking etc.
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Customs Notification number 158/95 dated 14.11.1995
Notification 158/95-Customs, dated 14.11.1995 is valid when introduction of GST in India on July 01, 2017 for exemption of IGST on imports.
Customs Notification number 158/95 dated 14.11.1995 allows exemption to: (a) Goods manufactured in India and parts of such goods whether of Indian or foreign manufacture and re-imported into India for repairs or for reconditioning. (b) Goods manufactured in India and re-imported for reprocessing or refining or remaking. Subject to the condition, inter alia, that goods are re-imported within one / three years from the date of export [10 years in the case of Nepal and Bhutan]; that goods are re-exported within 6 months of re-import, etc.
According to GST Law, the movement of goods specified under Customs Notification number 158/95 dated 14.11.1995 also exempted from paying IGST.
Click here to read complete extract of customs notification No: 158/95 dated 14.11.1995
Customs Notification number 158/95 dated 14.11.1995
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