Difficulties being faced in availing exemption relating to the Oil Exploration Sector

Board has examined the issues raised and the clarifications thereon:
1. Whether the goods imported for petroleum operations can be diverted from one eligible project to another without payment of duty on the basis of EC issued by DG, Hydrocarbons.

2. Whether it is necessary to furnish a re-export bond for goods imported under this exemption.

3.Whether individual member companies constituting a Consortium are eligible to import goods under the aforesaid exemption even though the contract has been signed by the Consortium.

4. Whether each sub-contractor (of a contractor) is required to enter into a contract with the GOI or his name should figure in the contract agreement signed between the contractor and GOI for availing the benefit of this exemption.

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