recognized authority for determination thereof. The Director or authorized person shall then determine the final annual quantitative entitlement of inputs and the applicant shall proceed to consume imported inputs in accordance with the input-output ratios and quantities so determined;”; in condition (iv),- (a) for the word of Customs”, the words and letters “Collectorate of IOCO” shall be substituted; and “Directorate (b) for the words and slash Customs stations”, “Collectorates/ occurring for the second time, the words and letters of IOCO” shall be substituted; “Directorate for condition (vii), the following shall be substituted, namely:- the importer-cum-manufacturer shall in writing communicate “(vii) to the concerned Director of IOCO about the consumption of imported items within sixty days of consumption of goods. After carrying out reconciliation by the concerned Directorate of IOCO, the clearance certificate shall be issued by the Director of IOCO or his authorized person on the basis of which the post dated cheque shall be released or cancelled by the Collector of Customs of concerned import Collectorate. In case of non-consumption of imported goods within one year from the date of import, the importer shall pay the customs-duty and other taxes involved or obtain extension for further period from the concerned Director of IOCO after giving plausible reasons for seeking extension in utilization period;”; in condition (viii),- (a) after the word occurring first, for the words of “the”, “Collector Customs of the import Collectorate”, the words and letters of IOCO” shall be substituted; and “Director (b) for the Collector of the import Collectorate may”, the “the words and letters Director of IOCO shall communicate the “the
recognized authority for determination thereof. The Director or authorized person shall then determine the final annual quantitative entitlement of inputs and the applicant shall proceed to consume imported inputs in accordance with the input-output ratios and quantities so determined;”; in condition (iv),- (a) for the word “Collectorate of Customs”, the words and letters “Directorate of IOCO” shall be substituted; and (b) for the words and slash “Collectorates/ Customs stations”, occurring for the second time, the words and letters “Directorate of IOCO” shall be substituted; for condition (vii), the following shall be substituted, namely:- “(vii) the importer-cum-manufacturer shall in writing communicate to the concerned Director of IOCO about the consumption of imported items within sixty days of consumption of goods. After carrying out reconciliation by the concerned Directorate of IOCO, the clearance certificate shall be issued by the Director of IOCO or his authorized person on the basis of which the post dated cheque shall be released or cancelled by the Collector of Customs of concerned import Collectorate. In case of non-consumption of imported goods within one year from the date of import, the importer shall pay the customs-duty and other taxes involved or obtain extension for further period from the concerned Director of IOCO after giving plausible reasons for seeking extension in utilization period;”; in condition (viii),- (a) after the word “the”, occurring first, for the words “Collector of Customs of the import Collectorate”, the words and letters “Director of IOCO” shall be substituted; and (b) for the “the Collector of the import Collectorate may”, the words and letters “the Director of IOCO shall communicate the
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