9911796707
TMI BlogExecution of Bond and Bank Guarantee (BG) for the purpose of permitting clearance of imported goods under Advance License/EPCG Schemes ; supersession to earlier Public Notice No. 84/2011 and Public Notice No. 81/2011X X X X Extracts X X X X X X X X Extracts X X X X ..... mes ; supersession to earlier Public Notice No. 84/2011 and Public Notice No. 81/2011- Reg **** Board vide Circular No. 58/2004-Cus, dated 21.10.2004 as amended vide Circular No.17/2009-Cus dated 25.05.2009 has prescribed norms for Execution of Bond and Bank Guarantee (BG) for the purpose of permitting clearance of imported goods under Advance License/EPCG Schemes. Circular also clarifies that BG exemption as specified in the said Circulars shall be admissible subject to the condition that, the Licence Holder should not have been penalized under the provisions of the Customs Act, 1962, the Central Excise Act, 1944, the Foreign Exchange Management Act(FEMA), 1999 or the Foreign Trade (Development ad Regulation) Act, 1992 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (f) (1) Manufacturer exporters who are not covered under (a), (b),(c),(d) (e) above. (2) Units in Agri Export Zones (AEZs), (3) Established Service Providers who have free foreign Exchange earnings of ₹ 50 lakhs or more during the preceding financial year and have a clean track record. 15% (g) service providers in the port handling sector who are appointed as Custodians by the jurisdictional Customs / Central Excise authorities 25% (h) Others 100% Note: The exemption provided at para (g) is applicable only in respect of import of capital goods under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NCE HOLDER IS AVAILING BG EXEMPTION IN TERMS OF PARA 3.1 OF THE BOARDS CIRCULAR NO. 58/2004-Cus AS AMENDED BY CIRCULAR NO 17/2009-CUS. It has been provided in Para 3.2 (b) of said Circular 58/2004-Cus that BG exemption as specified in Para 3.1 above shall be admissible subject to the following conditions: i. For the purpose of availing BG exemption in terms of Para 3.1 above, the exporter shall submit the proof of export performance or payment of duty, as the case may be, duly certified by the jurisdictional Superintendent of Central Excise in case he is registered with the Central Excise. ii. In cases where the exporter is not registered with the Central Excise, but he is a registered member of an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year duly certified by the jurisdictional Superintendent of Central Excise; or (b) the proof of payment of central excise duty during the current financial year or preceding financial year duly certified by the jurisdictional Superintendent of Central Excise; or (c) EODC or Redemption letter issued by DGFT (alongwith copy of License) during the current financial year or immediate preceding financial year in respect of earlier Licences issued under Advance Authorisation or EPCG Scheme, if any. In addition to above, Manufacturer Exporter shall also submit Installation certificate pertaining to earlier imported or domestically procured capital goods, by the Manufacturer exporters, issued by Jurisdictio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning to earlier imported or domestically procured capital goods, by the Manufacturer exporters, issued by Jurisdictional Superintendent of Central Excise certifying manufacturing activity; or (b) Installation certificate pertaining to earlier imported or domestically procured capital goods, issued by a Chartered Engineer certifying manufacturing activity. In such cases, Manufacturing Premises shall be post verified by the Jurisdictional Superintendent of Central Excise and Monitoring Cell shall ensure that such verification report is received; or (c) EODC or Redemption letter issued by DGFT (alongwith copy of License) during the current financial year or preceding financial year in respect of earlier Licence issu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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