Monitoring of Export obligation under Export Promotion Capital Goods Scheme- check list of Documents to be submitted for cancellation of Bond (LUT) / Bank Guarantee - Customs - FACILITY NOTICE NO. 50/2006

OFFICE OF THE COMMISSIONER OF CUSTOMS (EXPORT) JAWAHARLAL NEHRU CUSTOM HOUSE, SHEVA, DIST RAIGAD, MAHARASHTRA. F. No. S/26-Misc-380/2006 EPCG DATE: 08.08.2006 FACILITY NOTICE NO. 50/2006 (Referred / amended vide P.N.No. 79/2009) Sub : Monitoring of Export obligation under Export Promotion Capital Goods Scheme- check list of Documents to be submitted for cancellation of Bond (LUT) / Bank Guarantee -reg. Attention of all Importers / Exporters / CHAs and EPCG licence holders is drawn to the subject of cancellation of Bond (LUT) / BG executed with customs for fulfillment of export obligation under EPCG Scheme. Chapter 5 of Foreign Trade Policy (FTP) and Hand book of Procedures Volume I (HBP I) deal with the EPCG Scheme. As per the Customs Notifications issued to operationalise this schem, Bond (LUT) / BG is executed by the Licencee with Customs towards fulfillment of export obligation in lieu of imports under this scheme. 2. Para 5.13 of HBP (Vol 1) deals with redemption and issue of Export Obligation Discharge Certificate (EODC) by DGFT on production of relevant documents for proof of export done by the licencee. After receipt of EODC from the licensing authorities, the licencee has to request for cancellation of Bond (LUT) / Bank Guarantee executed with custom authorities. The request for cancellation of Bond / BG should be accompanied by the following documents for cancellation / closure of Bond (LUT) / BG :- 1. Request letter 2. Original EPCG Licence 3. Duty debit sheets in original 4. Original EODC (Redemption Certificate) from DGFT 5. Installation Certificate from Central Excise 6. Self attested copies of Bills of Entry 7. Self attested copies of Shipping Bills 8. Invoice copies / Bills of Lading copies etc.(Import) 9. Invoice copies / Bills of Lading copies etc.(Export) 10. Import statement (Bills of Entry-wise details, specially duty saved amounts) 11. Export statement (Shipping Bills details, specially FOB amounts) 12. Bank Realization Certificates 13. Authorisation letter to CHA / Representative to receive the BG/Bond 14. Any other documents required by Group AC. 3. All these documents will be placed in a file and, if the export obligation as specified in the licence, Foreign Trade Policy and respective Customs notifications is fulfilled, the Bond (LUT) and Bank guarantee, if any, will be cancelled and the cancelled LUT/BG will be handed over to the licence holder or to his authorized representative. The EPCG Group will also issue a letter to the licencee informing that the LUT/BG is cancelled. Any difficulties faced by the Trade in implementation of this Facility Notice may be brought to the knowledge of the undersigned immediately. (H.O.TIWARI) COMMISSIONER OF CUSTOMS (EXPORT)