9911796707
TMI BlogAmendment in the Handbook of Procedure Vol. IX X X X Extracts X X X X X X X X Extracts X X X X ..... e added after the first sentence of the paragraph 5.3.4 (iii) : However, the service providers, can give a certificate either from the jurisdictional Excise authority or from an independent chartered engineer confirming the inventory of spares taken in record of the licence holder within six months from the date of completion of imports. 3. The word "broad" appearing in the last line of paragraph 5.11.1 (as notified vide Public Notice No 42 dated 28.1.04) should be replaced by the word "board". 4. Second sentence of paragraph 5.18.3 related to clubbing of EPCG licences should be substituted by the following sentence. The export obligation period of the clubbed licence would be as per the policy applicable for the clubbed CIF value/clubb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... older shall execute a legal undertaking (LUT)/Bank Guarantee(BG) with the customs authorities in the manner as prescribed by them. However, in case of indigenous sourcing, the licence/certificate/permission holder shall furnish Bank Guarantee/LUT to the licensing authority as prescribed below before sourcing the material from the nominated agencies or indigenous supplier:- S. No Category of Exporter Relevant provisions of Bank Guarantee/LUT 1. All Status holders (both merchandise exporter and service providers)/Public Sector Undertaking (PSUs). Legal Undertaking (LUT). 2. Manufacturer exporter (a) Registered with Central Excise authority and (b) Having a minimum export turn- over of Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... less exempted); and (II) The company is registered with State Sales Tax Authorities and has paid sales tax (unless exempted); and (III) The company furnishes copy of their audited balance sheet; and the minimum investment in plant and machinery must be Rs 50 lakhs. Bond supported by Bank Guarantee to the extent of 25% of duty saved. 6. Merchant Exporter, all types of Proprietorship and Partnership firms (Other than Status Holders/PSUs) Bond supported by Bank Guarantee to the extent of 100% of the duty saved 7. Service providers other than those in category 1 above. Bond supported by Bank Guarantee to the extent of 100% of the duty saved However, Manufacturer / Merchant Exporters falling ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entitlement may be re-credited on production of documentary evidence showing fulfillment of export obligation and realization of export/ supply proceed. In all the above cases, the licencee is required to furnish declaration to the effect that they have not been penalized under the Customs Act, Excise Act, Foreign Trade (Development Regulation) Act, 1992 and FEMA/FERA. In respect of categories at Sl no. 2,3 and 4 above, the licencee would be required to submit the Export Performance Certificate issued by Jurisdictional Superintendent of Central Excise where the factory is located. As per the relevant Customs Circular, the Jurisdictional Superintendent of Central Excise will issue Export Performance Certificate even in respect of units w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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