REVISION OF BOND VALUE FOR DUTY FREE CONTAINER - Customs - 05/2016

OFFICE OF THE PRINCIPAL COMMISSIONER OF CUSTOMS (GENERAL) CONTAINER CELL, NEW CUSTOM HOUSE BALLARD ESTATE, MUMBAI-400001 F. No. S/43-Cont(G)-43/2015 C.Cell PUBLIC NOTICE No. 05/2016 Dated : 13.01.2016 Attention of the Steamer Agents/Importers is invited to the Government of India, Ministry of Finance, Notification No. 104/94 dated 16-03-1994 and this Custom House Public Notice No. 59/94 dated 03-06-1994. 2. As per the above Notification, containers of durable nature are permitted to be imported into India temporarily without payment of Customs Duty, on execution of Bond by the steamer agents provided that these containers are re-exported within a period of six months from the date of their importation. Each bond shall specify the number and type of containers likely to be handled by the Steamer Agent/Importers during the period. 3. In view of variation in costs and the prevailing market conditions etc. it has been decided that the Bonds of the following amounts shall be taken for the purpose of executing bonds for different types of containers for the year 2016 and onwards with immediate effect and until further orders: Type of containers Bond Value per container Rs. 20' Dr container 70,000 40' Dr container 1,35,000 20' Reefer container 2,50,000 40' Reefer container 4,00,000 20' Tank container 4,50,000 40' Tank container 6,00,000 4. The Steamer Agents/ Importers are advised to submit fresh Bonds to execute Bonds for above amount for the calendar year. However, for the Bonds which are already submitted/ accepted for the year 2016 may be continued, till the validity period is over. 5. The importation of containers without payment of Customs Duty on furnishing the Bonds will be subject to the condition that such imported containers shall be re-exported within SIX months or within such extended dates as permitted. 6. The concerned Steamer Agents/ Importers will furnish the evidence of re-export within 30 days' from the date of actual export of the containers. (Previously 21 days). 7. In the event of non-export of the containers, the Steamer Agents/ Importers has to pay the Duty alongwith applicable interest on the actual value of the containers. 8. This Public Notice supersede all previous Public Notices on the issue. (B. BHATTACHARYA) Principal Commissioner of Customs (G), NCH, Mumbai