Grant of waiver of the requirement of Bank Guarantee in respect of imported goods to be warehoused in Public or Private Bonded Warehouses – regarding

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..... C Government of India Ministry of Finance Department of Revenue ….. New Delhi, the 24th April, 2007 Sub : Grant of waiver of the requirement of Bank Guarantee in respect of imported goods to be warehoused in Public or Private Bonded Warehouses - regarding - …… I am directed to refer to Board's Circular No.68/95, dated 15.06.1995 and No.99/95, dated 20.09.1995 (F.No.473/61/94-LC) laying d .....

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..... r No.99/95 provides that in respect of sensitive goods, we may take a Cash deposit or Bank guarantee equal to 25% of the duty liability for each consignment. The said circular also specifies that where a warehouse keeper wants to have revolving bond with a single Bank guarantee for a higher amount, it can also be accepted and a suitable credit/ debit system for each consignment warehoused/ cleared .....

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..... be strictly followed and the requirement of Cash deposit or Bank guarantee equal to 25% of the duty in respect of sensitive goods, as envisaged in para 3 (viii) of Circular No.99/95, shall be complied uniformly. This would be applicable not only to Private Bonded Warehouses but to Private owned Public Bonded Warehouses as well. 5.The contents of this Circular may be brought to the notice of the .....

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