Wait...

Online India Export Import Data Search

Complete Training Video : Click Here

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



				
       

DO YOU NEED HELP?

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 27-06-2017
NOTIFICATION No. 12 /2015-2020
Supply of essential commodities to the Republic of Maldives during 2017-18

Date: 23-06-2017
NOTIFICATION No. 11 /2015-2020
Amendment in export policy of Muli Bamboo and export policy for bamboo products

Date: 23-06-2017
Notification No. 56/2017 - Customs (N.T.)
Seeks to amend Notification No. 61/94(NT) - Customs, dated the 21st November, 1994 to declare Kannur International Airport as Customs Airport under sub-section (2) of section 7 of the Customs Act, 1962

Date: 22-06-2017
NOTIFICATION No. 10 /2015-2020
Prohibition on import of milk and milk products from China

Date: 22-06-2017
Notification No. 31/2017-Customs (ADD)
Seeks to impose anti-dumping duty on imports of sewing machine needles originating in or exported from China PR

Date: 22-06-2017
NOTIFICATION No. 18/2017-Service Tax
Seeks to amend the Rule 7 and & 7B of the Service Tax Rules 1994 so that the return for the period from 01.04.2017 to 30.06.2017 shall be submitted by 15.08.2017

Date: 21-06-2017
Notification No. 55/2017 - Customs (N.T.)
Seeks to notify the India - Malaysia Comprehensive Economic Cooperation Agreement (Bilateral Safeguard Measures) Rules, 2017

Date: 19-06-2017
Notification No. 18/2017- Central Excise (N.T.)
Notifying the date by which the Notification No.14/2017 CE (NT) dated the 9th June 2017 shall come into force.

Date: 19-06-2017
Notification No. 17/2017- Central Excise (N.T.)
Notifying the date by which the Notification No.13/2017 CE (NT) dated the 9th June 2017 shall come into force.

Date: 19-06-2017
Notification No. 16/2017- Central Excise (N.T.)
Notifying the date by which the Notification No.12/2017 CE (NT) dated the 9th June 2017 shall come into force.