Time for re-exports of ISO containers meant for transportation of Liquid Medical Oxygen extended till 30.09.2022: Circular
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- Last Updated on 20 January, 2022
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Circular No.01/2022-Customs Dated January 18th, 2022
CBIC has issued circular to allow extension of time period for re-exports of ISO containers meant for transportation of Liquid Medical Oxygen grade till 30.09.2022 upon receipt of requests from the importers, in this regard. This extension shall be available only if ISO containers are imported under Notification No. 104/1994-Customs dated 16.03.1994.
If ISO Containers are imported on lease by availing IGST exemption under serial number 557B of Notification No.50/2017-Customs dated 30.06.2017, it is also clarified that as long as ISO containers are in India under a valid lease and the IGST amount is paid on such lease amount under CGST law, the IGST is not required to be paid on the value of the ISO containers, and in such a situation the need for re-export would not arise.
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