Powered by InfodriveIndia.com

Amendment to Circular No.58/2004-Cus. dated 21.10.2004., Customs Circular No 49/2005, 29-11-2005


Date: 29-11-2005
Notification No: Customs Circular No 49/2005
Issuing Authority: Indian Customs  
Type: Circular
File No:
Subject: Amendment to Circular No.58/2004-Cus. dated 21.10.2004.

Revised Norms for Execution of Bond and Bank Guarantee under Advance Licence and EPCG Schemes � reg.
Kind attention is invited to Circular No.58/2004-Cus. dated 21.10.2004 vide which revised norms for execution of Bond/BG under Advance Licence and EPCG Schemes were notified for the various categories of importers. Subsequently, after announcement of the Annual Supplement to the Foreign Trade Policy 2004-09, vide Circular No.30/2005-Cus. dated 12.7.2005, the quantum of Bank Guarantee in respect of other manufacturer exporters covered under Para 3.1 (f) of Circular No.58/2004-Cus. was reduced from 25% to 15% and units in Agri Export Zones (AEZs) were also made eligible for the said Bank Guarantee of 15%. It was also clarified that the facility of 15% Bank Guarantee has also been extended to established service providers who have free foreign exchange earnings of Rs.50 lakhs or more during the preceding financial year and have a clean track record.

2. In recent months it has been brought to the notice of the Ministry by the trade that the service providers operating in the port handling sector, who are appointed as custodians by the jurisdictional Customs authorities, are required to import port handling equipments in bulk so as to develop the infrastructure. And, if such service providers are not a star export house and if they do not have any past foreign exchange earnings, at present they are required to give 100% Bank Guarantee for importing capital goods under EPCG Scheme which increases the transaction cost.

3. On examination of their request in the Ministry, it has been decided that service providers in the port handling sector who are appointed as Custodians by the jurisdictional Customs/Central Excise authorities shall be eligible for 25% Bank Guarantee for importing capital goods under EPCG Scheme. Circular No.58/2004-Cus. dated 21.10.2004 stands modified to this effect.

4. A suitable Trade Notice and Standing Order may be issued for the guidance of the trade and staff. Difficulties faced, if any, in implementation of the Circular may be brought to the notice of the Board at an early date.

5. Receipt of the Circular may kindly be acknowledged.

Yours faithfully,

Sd/-
(R.K. TALAJIA)
O.S.D. (DBK)

F.NO.607/08/2005-DBK



				
       


Enquiry Form

Fields marked with an asterisk * are required.

 




What is New?

Date: 01-05-2015
DGFT Notification No 05/ 2015-2020
Withdrawal of Duty Free Import Authorisation (DFIA) Scheme for import of raw Sugar.

Date: 01-05-2015
DGFT Public Notice No. 08/2015-2020
Amendment in Appendix- 4 J relating to Export Obligation Period under Advance Authorizations.

Date: 01-05-2015
DGFT Public Notice No. 09/2015-2020
Allocation of quantity for export of sugar to EU under CXL quota and to USA under Tariff Rate Quota.

Date: 01-05-2015
DGFT Public Notice No. 07/2015-2020
Amendment in para 2.07 (a) (iv) of Handbook of Procedures (2015-2020)

Date: 30-04-2015
Customs Notification No. 28/ 2015
Seeks to amend notification No. 12/2012- Customs, dated the 17th March, 2012

Date: 30-04-2015
Customs Notification No. 29/ 2015
Seeks to amend notification No. 39/96- Customs, dated the 23rd July, 1996

Date: 30-04-2015
Customs Notification No. 30/ 2015
Seeks to amend notification No. 27/2011- Customs, dated the 1st March, 2011

Date: 30-04-2015
Customs Notification No 41/2015 (NT)
Rate of exchange of conversion of each of the foreign currency with effect from 1st May, 2015

Date: 30-04-2015
Customs Notification No 42/2015 (NT)
Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Date: 28-04-2015
Central Excise Circular No.1001/8/2015-CX.8
Clarification on rebate of duty on goods cleared from DTA to SEZ