S.R.O. 601(I)/2010., Islamabad, the 28th June, 2010

SROS: S.R.O. 601(I)/2010., Islamabad, the 28th June, 2010 S.R.O. 601(I)/2010., Islamabad, the 28th June, 2010:- In exercise of the powers conferred by section 219 of the Customs Act, 1969(IV of 1969), the Federal Board of Revenue is pleased to direct that the following further amendments shall be made in the Customs Rules, 2001, namely: In the aforesaid Rules, (a) in rule 342, for clause(i), the following shall be substituted, namely:- (i) manufacturing bond means a premises having a proper boundary wall, with clearly defined areas of, (a) bonded warehouse; (b) manufacturing facility; and (c) other stores, licensed by the Collector under rule 343; (b) in rule 343, (i) in sub-rule(2) and(3), for the word seven the word fifteen shall respectively be substituted; and (ii) in sub-rule(3), after the word verification the words and premises survey shall be inserted; (c) in rule 346, after the words three years occurring for the second time, the words before every expiry date shall be inserted;(d) in rule 349, in sub-rule(4), after the word exit occurring for the second time, the bracket and words (except for emergency evacuation) shall be inserted; (e) in rule 350, (i) for sub-rule(4), the following shall be substituted, namely: (4) Input goods imported or procured locally by a manufacturing bond licensee shall be consumed within a period which shall run from the date on which the imported goods are placed under the manufacturing bond procedure. The period will be established by the Collectorate concerned on the basis of the time required to carry out the processing operations and dispose of the compensating products, as established in the Analysis Certificate. The period will not in any event exceed two years from the date of in-bonding or procurement of locally purchased goods. For duly justified reasons, extension may be granted for another one year by special written approval of an officer not below the rank of Additional Collector of Customs: Provided that palm oil or olein shall be consumed in the manufacture of goods meant for export within six months from the date of filing of Goods Declaration or procurement of locally purchased goods.; and (ii) in sub-rule…