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

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..... .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 Government Department and Public Sector Undertakings, wherein it was decided to continue with the pra .....

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..... aken 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 the above cash security. In respect of Fertiliser Projects which are liable to Zero rate of duty, .....

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