Home Acts & Rules Customs Regulations Courier Imports and Exports (Clearance) Regulations, 1998 This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Regulation 11 - Execution of bond and furnishing of security - Courier Imports and Exports (Clearance) Regulations, 1998Extract REGULATION 11. Execution of bond and furnishing of security. - The 2 [Principal Commissioner of Customs or Commissioner of Customs, as the case may be] shall require the applicant to enter into a bond in such form with a security of 1 [ten lakh] rupees in case of major international airports of Mumbai, Delhi, Calcutta and Chennai and 1 [five lakh] rupees in case of other airports and Land Customs Stations in cash or in the form of postal security or bank guarantee or National Savings Certificate in the name of the 2 [Principal Commissioner of Customs or Commissioner of Customs, as the case may be] for complying with the provisions of the Customs Act, 1962 (52 of 1962) and the rules and regulations made thereunder. The condition of the said bond shall also be that the applicant shall agree to pay the duty, if any, not levied or short levied, with interest if applicable on any goods taken clearance by the Authorised Courier if in the opinion of the Assistant Commissioner of Customs or Deputy Commissioner of Customs the same cannot be recovered from the importer or the exporter. ******************* Notes: - 1. Substituted vide notification no. 75/2010 Cus(NT) dated 12/8/2010 , before it was read as, two lakh and one lakh respectively. 2. Substituted vide Not. 56/2014 - Dated 6-8-2014
|