Page 39 - ELT_15th July 2020_Vol 373_Part 2

2020 ] EXPORTS & IMPORTS UNDER FOREIGN TRADE POLICY A45

Also second-hand goods other than capital goods are restricted. These capital
goods importable against authorization. Refurbished/re-conditioned spares of
capital goods imported free but subject to production of Chartered Engineer cer-
tificate to the effect that such spares have at least 80% residual life of original
spare.
Import policy for metallic waste and scraps
(a) Import of any form of metallic waste, scrap will be subject to the
condition that it will not contain hazardous, toxic waste, radioactive
contaminated waste/scrap containing radioactive material, any
types of arms, ammunition, mines, shells, live or used cartridge or
any other explosive material in any form either used or otherwise as
detailed in Para 2.54 of Handbook of Procedures.
(b) The types of metallic waste and scrap which can be imported freely,
and the procedures of import in the shredded form; unshredded
compressed and loose form is laid down in Para 2.54 of Handbook
of Procedures.

Removal of scrap/waste from SEZ
A SEZ unit/Developer/Co-developer may be allowed to dispose of in
DTA any waste or scrap, including any form of metallic waste and scrap, gener-
ated during manufacturing or processing activity, without an Authorisation, on
payment of applicable Customs duty.
Other provisions related to imports

Import under Lease Financing
No specific permission of RA is required for lease financed capital goods.
Execution of Legal Undertaking (LUT)/Bank Guarantee (BG)
Wherever any duty-free import is allowed or where otherwise specifical-
ly stated, importer shall execute, Legal Undertaking (LUT)/Bank Guarantee
(BG)/Bond with the Customs Authority, as prescribed, before clearance of
goods.
(b) In case of indigenous sourcing, Authorisation holder shall furnish
LUT/BG/Bond to RA concerned before sourcing material from indigenous sup-
plier/nominated agency as prescribed in Chapter 2 of Handbook of Procedures.
Private/Public bonded warehouses for imports
(a) Private/Public bonded warehouses may be set up in DTA as per
rules, regulations and notifications issued under the Customs Act,
1962. Any person may import goods except prohibited items, arms
and ammunition, hazardous waste and chemicals and warehouse
them in such bonded warehouses.
(b) Such goods may be cleared for home consumption in accordance
with provisions of FTP and against Authorisation, wherever re-
quired. Customs duty as applicable shall be paid at the time of
clearance of such goods.
(c) The clearance of the warehoused goods shall be as per the provi-
sions of the Customs Act, 1962.
EXCISE LAW TIMES  15th July 2020  39