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TMI BlogAmendment to Circular No. 54/2004-Customs - Foreign Trade Policy (FTP) announced on 31.8.2004- Amendment of notifications relating to EOU and Gems and Jewellery Export Promotion Schemes- Reg.X X X X Extracts X X X X X X X X Extracts X X X X ..... ioners of Customs Central Excise (Appeals) Sub:- Waiver from the requirement of Bank Guarantee in respect of EOUs Amendment to Circular No. 54/2004-Customs dated 13.10.2004 - reg. *** Attention is invited to para 19 of the Board s Circular No. 54/2004-Customs dated 13.10.2004 which extends the facility of exemption from furnishing bank guarantee by 100% Export Oriented Units (EOUs) at the time of import or for sending goods on job work in Domestic Tariff Area (DTA). 2. In terms of the provisions of para 6.12 (f) of FTP announced on 31.8.2004, exemption was granted for 100% EOUs from furnishing bank guarantee at the time of import or going for job work in DTA subject to certain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sitive 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 Management Act, the Finance Act, 1994 covering Service Tax or any allied Acts or the rules made thereunder, on account of fraud / collusion / willful mis-statement/ suppression of facts or contravention of any of the provisions thereof; [*Note: The said para has been re-numbered as 6.12(e) in the current FTP introduced w.e.f. 23.8.2010] From the above it could be seen that there are four co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... guarantee waiver mentioned in para 6.12(f) of the FTP, in view of the exclusion provided therein. 5. 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 issues with the approval of competent authority. Yours faithfully, (H.S. Chimni) Deputy Director - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanag ..... X X X X Extracts X X X X X X X X Extracts X X X X
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