Extending the period of validity of security in the form of FDR
Seeks to amend notification no. 50/2017-Customs dated 30.06.207 extending the time period for furnishing the final Mega power project certificate from 120 months to 156 months and extending the period of validity of security in the form of Fixed Deposit Receipt (FDR) or Bank Guarantee from 126 months to 162 months, in case of provisional mega power projects- NOTIFICATION No. 31/2022-Customs
G.S.R. 428(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017, namely :-
In the said notification, in the ANNEXURE, in Condition No. 95, in clause (ii), in sub-clause (a),-
(i) for the words “one hundred and twenty-six months”, the words “one hundred and sixty-two months” shall be substituted; and
(ii) for the words “one hundred and twenty months”, the words “one hundred and fifty-six months” shall be substituted.
Note : The principal notification No.50/2017-Customs, dated the 30th day of June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017 and last amended vide notification No. 26/2022-Customs, dated the 21st May, 2022 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 378(E), dated the 21st May, 2022.
