• >
  • >
  • >
  • >
  • Online India Export Import Data Search

    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,

    (R.K. TALAJIA)
    O.S.D. (DBK)




    Enquiry Form

    Fields marked with an asterisk * are required.

    What is New?

    Date: 20-10-2016
    RBI/2016-17/88 A.P. (DIR Series) Circular No. 6
    Review of sectoral caps and simplification of Foreign Direct Investment (FDI) Policy

    Date: 20-10-2016
    RBI/2016-17/89 A.P. (DIR Series) Circular No. 7
    Investment by a Foreign Venture Capital Investor (FVCI) registered under SEBI (FVCI) Regulations, 2000

    Date: 20-10-2016
    RBI/2016-17/90 A.P. (DIR Series) Circular No. 8
    Foreign investment in Other Financial Services

    Date: 20-10-2016
    RBI/2016-17/91 A.P. (DIR Series) Circular No. 9
    Rupee Drawing Arrangement - Trade related remittance limit

    Date: 20-10-2016
    RBI/2016-17/92 A.P. (DIR Series) Circular No. 10
    External Commercial Borrowings (ECB) – Extension and conversion

    Date: 20-10-2016
    RBI/2016-17/93 A.P. (DIR Series) Circular No. 11 [(1)/14(R)]
    Foreign Exchange Management (Manner of receipt and payment) Regulations, 2016

    Date: 20-10-2016
    Customs Circular No. 47/2016
    Rebate of State levies on Export of Garments-Implementation by CBEC

    Date: 20-10-2016
    DGFT Public Notice No. 39/2015-2020
    Inclusion of Inland Container Depots located at Kalinganagar and Turnb Village (Taluka Umbergaon, District Valsad) as a Port of Registration under Para 4.37 of Hand Book of Procedures (2015-2020).

    Date: 20-10-2016
    Customs Notification No. 127/2016 (NT)
    Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016

    Date: 17-10-2016
    Customs Notification No. 3/2016-Customs (N.T./CAA/DRI)
    Appointment of Common Adjudicating Authority by DGRI

    Exim Guru Copyright © 1999-2016 Exim Guru. All Rights Reserved.
    The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
    Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


    C/o Infodrive India
    E-2, 3rd Floor, Kalkaji Main Road
    New Delhi - 110019, India
    Phone : 011 - 40703001