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Customs - Highlights / Catch Notes

Home Highlights March 2024 Year 2024 This

Special drive announced for the cancellation of Bond/Bank ...


Initiative to Cancel Bonds for EPCG/DEEC Holders via EODC/Redemption Letters from 4th to 18th March 2024.

March 8, 2024

Circulars     Customs

Special drive announced for the cancellation of Bond/Bank Guarantee for EPCG/DEEC Licence Holders upon submission of EODC/Redemption Letters issued by DGFT Authorities. The initiative aims to facilitate trade and increase transparency, scheduled from 4th March 2024 to 18th March 2024.

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  1. Rationalization of procedures in handling EODC requests under Advance/EPCG Authorizations

  2. Rationalization of procedures in handling redemption requests under Advance/EPCG Authorizations

  3. Guidelines to RAs for following Standard Operating Procedure (SOP) for EODC monitoring of both Advance as well as EPCG authorizations using software in website http://eodc.online

  4. Conversion of Shipping Bills from Drawback and EPCG Scheme to EPCG Drawback and DEEC Scheme - examination by the Central Excise Officer cannot substitute for examination...

  5. EPCG Scheme - Concessional rate of Customs duty - The Department has cancelled bond and bank guarantee after satisfying that the Export Obligation was fulfilled and EODC...

  6. Capital gains tax exemption bonds issued u/s 54EC of the Income Tax Act, 1961, are long-term specified assets with a mandatory lock-in period of 5 years. The legislative...

  7. Demand against violation of bond conditions - Warehousing of goods imported - The appellant has furnished E.P copy of the shipping bill as proof of export. The appellant...

  8. Denial of duty exemption availed by the assessee in terms of EPCG Authorisation - export obligation - Delay in getting EODC - The appellant should not be taken to task...

  9. Suspension of license of public bonded warehouse - bonded goods were stored in non-bonded tanks - appellants pleaded that the disputed goods cannot be confiscated, when...

  10. Issues related to Bond/Letter of Undertaking (LUT) for Export payment of Integrated Goods & Service Tax (IGST) - Delhi Govt prescribes procedure and manner for...

  11. The CESTAT allowed the appeal against the imposition of redemption fine u/s 125 of the Customs Act, 1962. The Tribunal held that when the exported goods are unavailable,...

  12. EPCG Scheme - Benefit of an EXIM scheme - Non fulfilment of the export obligations - The High Court examined the clauses of the bonds executed by the appellant and...

  13. EPCG Scheme - non-fulfilment of export obligation - The findings of the competent authority reveals that in order to relax the conditions, EPCG license number, date of...

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  15. Imposition of redemption fine - section 125 of CA - goods in question have already been released in favour of the assessee on a bond - the mere fact that the goods were...

 

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