9911796707
TMI BlogClarification on Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017-reg.X X X X Extracts X X X X X X X X Extracts X X X X ..... er/Chief Commissioner of Customs /Custom (Preventive), All Principal Chief Commissioner/Chief Commissioner of Central Tax, All Principal Commissioner/Commissioner of Customs / Customs (Preventive), All Principal Commissioner/ Commissioner of Central Tax. Sir /Madam, Subject: Clarification on Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017-reg. Kind reference is drawn to No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or domestic industry particularly electronic hardware manufacturers as submission of surety increases the transaction cost hampering their efforts to optimise the manufacturing capacity. 4. In this regard, it is worthwhile to mention that the option to furnish surety or security along with the Bond is given, in order to facilitate manufacturers and service providers keeping in view the different ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or an autonomous institute under the said governments. Bank Guarantee/Cash Security-Nil Surety-Not required. b) All importers who are Authorized Economic Operators. c) All importers who are manufacturers or service providers registered under GST and have been filing prescribed GST returns without fail and whose annual turnover in the preceding year is above ₹ 1 crore. Importers shall g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which case the matter shall be referred to the jurisdictional Commissioner who may order for higher quantum of Bank Guarantee or cash security, subject to limit of 100% of the total duty foregone, after recording the reasons thereof in writing. 7. In order to avail above exemption/ relaxation from furnishing Bank Guarantee/Cash security or surety, prosecution should not have been initiated or la ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
