Clarification - MF(DR)Circular No.42/2007, Customs - Exim - SEZ

[JAYESH SHAH]

MF(DR)Circular No.42/2007 Customs dated 30.11.2007 granting exemption from furnishing of Bank Gaurantee to Central/State Government undertaing. My query is; Whether transfer of goods from Mumbai Port to warehouse at Gujarat is covered under the above circular or not? Relevant extract of the circular is reproduced as under: it is clarified that all Central and State Public Sector Undertakings shall be exempt from furnishing Bank guarantee or other form of security for inter-city transfer of goods from one bonded warehouse to another, including transfer of goods from Sea/ Dryland port. The transit would, however, be continued to be executed.

Posts / Replies

[Surender Gupta]

A bare reading of the circular reveals that transfer of goods from Mumbai Port to warehouse at Gujarat is not exempt from furnishing of bank guarantee.