Project Imports -Cash security deposit lowered to 2% from 5%

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..... ity in lieu of bank guarantee. I am directed to refer Board's letter F.No. 521 / 192/ 90-Cus.(TU) dated 9.1.1992 advising Customs Houses / Collect orates to take cash security equivalent to 5% of C.I.F. value of goods, at the time or registration of Project Contract under Project Import Regulations, 1986, An exception was, however, made in the case of imports by the Governmen .....

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..... e CIF value of goods sought to be imported subject to a maximum of Rs. 50 lakhs, would only be taken in place of 5% cash security, presently, being taken. the balance amount shall be covered by a bank guarantee backed by an undertaking to renew it till the finalisation of the contract. The Government Department and Public Sector Undertaking would, however, continue to be exempted from furnishing t .....

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