Timely cancellation of bond executed with Customs in advance authorisation cases - Customs - PUBLIC NOTICE No. 02/2016

OFFICE OF THE COMMISSIONER OF CUSTOMS NEW CUSTOMS HOUSE, PANAMBUR, MANGALURU 10 C No. S-2/03/2016 Export Date: 29.02.2016 PUBLIC NOTICE No. 02/2016 Sub: Timely cancellation of bond executed with Customs in advance authorisation cases Reg. Attention of the importers, exporters, Customs brokers, steamer agents and the other members of trade is invited to the instructions of the Central Board of Excise and Customs, issued in F. No. 605/71/2015-DBK dated 02.12.2015 regarding timely cancellation of bond executed with Customs in advance authorization cases. The said instruction is available on departmental website cbec.gov.in. Some of the key points are as under: 2. The Board has noticed that substantial time is taken to cancel the bond executed by exporters with the Customs in terms of the Advance authorisation and EPCG Licenses. In this regard, all the importers, exporters, custom brokers are requested to submit the documents evidencing export obligation like EODC issued by DFGT and other documents such as shipping bills and BRC copies on time before the expiry of the license so that the process for cancellation of bond, bank Guarantees and returning the same to the executors may be initiated. 3. All importers, exporters are also requested to approach DGFT authorities well in advance to get redemption certificate, i.e EODC for any of the registered advance authorization and EPCG licenses, as Bond may be closed only after the receipt of EODC from DGFT. 4. In view of the Board s instructions, a Standing Order bearing No. 01/2016 dated 29.02.2016 in this regard has been issued to the Departmental Officers for their information and compliance. All Importers/Exporters, Custom Brokers and the Members of the Trade are requested to co-operate with the Departmental Officers in implementing the said instructions of the Board. (Dr .M. SUBRAMANYAM) COMMISSIONER OF CUSTOMS