Subs. by Act 28 of 2016, s. 134, for “re-exportation” (w.e.f. 14-5-2016). — LIST OF AMENDING ACTS

12. Subs. by Act 28 of 2016, s. 134, for “re-exportation” (w.e.f. 14-5-2016). 1* * * * * (d) where any goods in respect of which a bond has been executed under 2 [section 59 3 *** ] and which have not been cleared for home consumption or 4 [export or] are not duly accounted for to the satisfaction of the proper officer, the proper officer may demand, and the owner of such goods shall forthwith pay, the full amount of duty chargeable on account of such goods together with 5 [interest, fine and penalties] payable in respect of such goods (2) If any owner fails to pay any amount demanded under sub-section (1), the proper officer may, without prejudice to any other remedy, cause to be detained and sold, after notice to the owner (any transfer of the goods notwithstanding) such sufficient portion of his goods, if any, in the warehouse, as the said officer may 6 [deem fit]. 73. Cancellation and return of warehousing bond.—When the whole of the goods covered by any bond executed under 8 [section 59 9 ***] have been cleared for home consumption or exported or 7 [transferred or] are otherwise duly accounted for, and when all amounts due on account of such goods have been paid, the proper officer shall cancel the bond as discharged in full, and shall on demand deliver it, so cancelled, to the person who has executed or is entitled to receive it. 8 [73A. Custody and removal of warehoused goods . — (1) All warehoused goods shall remain in the custody of the person who has been granted a licence under section 57 or section 58 or section 58A until they are cleared for home consumption or are transferred to another warehouse or are exported or removed as otherwise provided under this Act. (2) The responsibilities of the person referred to in sub-section (1) who has custody of the warehoused goods shall be such as may be prescribed. (3) Where any warehoused goods are removed in contravention of section 71, the licensee shall be liable to pay duty, interest, fine and penalties without prejudice to any other action that may be taken against him under this Act or any other law for the time being in force.] CHAPTER X DRAWBACK 74. Drawback allowable on re -export of duty-paid goods . — (1) When any goods capable of being easily identified which have been imported into India and upon which 9 [any duty has been paid on importation,— (i) are entered for export and the proper officer makes an order permitting clearance and loading of the goods for exportation under section 51; or (ii) are to be exported as baggage and the owner of such baggage, for the purpose of clearing it, makes a declaration of its contents to the proper officer under section 77 (which declaration shall be deemed to be an entry for export for the purposes of this section) and such officer makes an order permitting clearance of the goods for exportation; or (iii) are entered for export by post under 10 [clause (a) of section 84] and the proper officer makes an order permitting clearance of the goods for exportation, 1. Cl . (c) omitted by Act 28 of 2016, s. 135 (w.e.f. 14-5-2016). 2. Subs. by Act 55 of 1991, s. 9, for “section 59” (w.e.f. 23-12-1991). 3. The words, figures and letter “or section 59A” omitted by Act 32 of 1994, s. 60 (w.e.f. 13-5-1994). 4. Subs. by Act 28 of 2016, s. 135, for “exportation” (w.e.f. 14-5-2016). 5. Subs. by s. 135, ibid., for “all penalties, rent, interest and other charges” (w.e.f. 14-5-2016). 6. Subs. by s. 135, ibid., for “select” (w.e.f. 14-5-2016). 7. Ins. by Act 28 of 2016, s. 136 (w.e.f. 14-5-2016). 8. Ins. by s. 137, ibid. (w.e.f. 14-5-2016). 9. Subs. by Act 80 of 1985, s. 6, for certain words (w.e.f. 27-12-1985). 10. Subs. by Act 13 of 2018, s. 85, for “section 82” (w.e.f. 28-3-2018). ninety-eight per cent. of such duty shall, except as otherwise hereinafter provided, be re-paid as drawback, if— f— ] (a) the goods are identified to the satisfaction of the 1 [Assistant Commissioner of Customs or Deputy Commissioner of Customs] as the goods which were imported; and (b) the goods are entered for export within two years from the date of payment of duty on the importation thereof: Provided that in any particular case the aforesaid period of two years may, on sufficient cause being shown, be extended by the Board by such further period as it may deem fit. (2) Notwithstanding anything contained in sub-section (1), the rate of drawback in the case of goods which have been used after the importation thereof shall be such as the Central Government, having regard to the duration of use, depreciation in value and other relevant circumstances, may, by notification in the Official Gazette, fix.

Section 12