Norms for Execution of Bank Guarantee in respect of Advance Authorization (AA)/Duty Free Import Authorization (DFIA)/Export Promotion Capital Goods (EPCG) Schemes reg.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... E NO. 07/2013 Subject: Norms for Execution of Bank Guarantee in respect of Advance Authorization (AA)/Duty Free Import Authorization (DFIA)/Export Promotion Capital Goods (EPCG) Schemes reg. Attention of all importers, members of trade and industry is invited to the Circular No.58/2004-Cus dated 21.10.2004 on the above subject. This was amended by Circular Nos. 17/2009-Cus and 32/2009-cus. Circu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... It has been brought to the notice of the Board by exporters, trade associations and the field formations that with this amendment the benefit of availing of exemption from bank guarantee will be denied even before the show cause notice proposing imposition of penalty has been adjudicated. 4. The Board has reviewed the matter and considers that the position of not having been penalized should be r .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... llful suppression/fraudulent intent aimed at availing CENVAT credit, rebate, refund, drawback, benefits under export promotion/reward schemes. (d) Cases wherein Customs/Excise duties and Service Tax has been collected but not deposited with the exchequer. (e) Cases of non-registration with the Department with intent to evade payment of duty/tax. or in cases booked against him under the Forei .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X