(1) If an importer sells the imported goods to an industry located in the Special Economic Zone with the prior approval of the department, if he has paid customs duty while importing such goods, in order to get back such customs duty, within sixty days of selling the goods, he shall attach the following documents from the customs office. An application has to be submitted to the same office if it has been imported:-
(a) Invoices, declarations and cash receipts for importation of goods,
(b) the agreement between the buyer industry and the seller importer regarding the purchase and sale of such goods,
(c) Invoice for sale of goods,
(d) A certified copy of the purchase account showing the purchase of such goods by the procuring industry,
(e) Proof of receipt of payment from the procuring industry,
(f) A bank guarantee equal to the customs duty on such goods issued in the name of the concerned customs office on behalf of the buyer industry or the seller.
(2) After receiving the application according to sub-rule (1), if the head of the customs office makes necessary investigations and finds that the duty must be refunded, the duty must be fully or partially refunded to the applicant within thirty days from the date of the application.
(3) During the investigation according to sub-rule (2), if it is found that the applicant does not have to return the amount demanded in full or partially, the reason should be given to the applicant in writing.
(4) The bank guarantee as per Clause (f) of Sub-rule (1) shall be released after submitting the proof that the industry located in the special economic zone has made and exported the prepared goods using the goods sold as per sub-rule (1) and the proof of receipt of foreign currency.
(5) Notwithstanding anything written in sub-rule (1), if the seller sells such goods including customs duty in his import price, the customs duty paid at the time of importation shall not be refunded.