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TMI BlogAmendment to Circular No. 54/2004-Customs dated 13.10.2004 regarding waiver from the requirement of Bank Guarantee in respect of EOUsX X X X Extracts X X X X X X X X Extracts X X X X ..... t, 2011. To All Chief Commissioners of Customs / Customs (Prev) All Chief Commissioners of Customs Central Excise All Commissioners of Customs / Customs (Prev) All Commissioners of Customs (Appeals) All Commissioners of Customs Central Excise All Commissioners of Customs Central Excise (Appeals) Sub:- Waiver from the requirement of Bank Guarantee in respec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... having an unblemished track record. Accordingly, this was implemented by issue of instructions vide para 19 of the aforesaid Board s Circular No. 54/2004-Customs . 3. It has been brought to the notice of the Board that one of the conditions relating to unblemished track record for grant of such exemption from furnishing bank guarantee to 100% EOUs has been changed in the annual FTP amendments ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years; and (iii)The unit: (a) has achieved positive NFE / export obligation wherever applicable; (b) has not been issued a show cause notice or a confirmed demand, during the preceding 3 years, on grounds other than procedural violations, under the penal provision of the Customs Act, the Central Excise Act, the Foreign Trade (Development Regulation) Act, the Foreign Exchange Manageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tlements of bank guarantee waiver granted under para 6.12(f). 4.2 It could be seen from the provisions of para 6.12(f) sub-para (iii)(b) of FTP, that the prescribed condition clearly excludes show cause notices or cases booked for procedural violations. Hence, the entitlement of bank guarantee exemption to 100% EOUs / EHTP / STP / BTP units shall be denied only in cases involving fraud/ coll ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Board s Circular No. 54/2004-Customs dated 13.10.2004 stands modified to the above extent. 6. These instructions may be given wide publicity and should be brought to the notice of all the concerned by way of issuance of instructions/ trade notice. 7. Difficulty faced, if any, in implementation of the above instructions may be brought to the notice of the Board at an early date. 8. This is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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