bond for concessional rate of duty, Customs - Exim - SEZ

[vasudevan konda]

Sir, we have executed Bond for import of goods at concessional rate of duty u/n 57/2017.

We have executed bond for Rs.one crore. Can we use the same bond by taking credit of duty of the goods imported and used in the manufacturing activity, for the purpose of further import of goods. The Department is wary of the use and they demand to execute Bond against consignment basis. Please give remedial advice.

Vasudevan konda

9727706525

Posts / Replies

[YAGAY andSUN]

If it is a running bond then you can use it provided the existing imports had not exhausted the bond value/duty amount as mentioned, otherwise you have to execute a fresh bond along with BG if you are not AEO Status Holder or do not have Status Holder Certificate as mentioned in FTP.