Powered by InfodriveIndia.com

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,

O.S.D. (DBK)



Enquiry Form

Fields marked with an asterisk * are required.


What is New?

Date: 30-11-2015
Customs Notification No 135/2015 (NT)
Fixation of Tariff Value Notification amending Notification No. 36/2001–Customs (N.T.), dated the 3rd August, 2001

Date: 30-11-2015
RBI/2015-16/255 A.P. (DIR Series) Circular No.32
External Commercial Borrowings (ECB) Policy – Revised framework

Date: 27-11-2015
Systems Alert for monitoring realisation of export proceeds in EDI under the BRC Module for ICES (introduced in year 2009) and the new RBI BRC Module introduced under DG (Systems) letter dated 28.8.2014

Date: 26-11-2015
RBI/2015-16/253 A.P. (DIR Series) Circular No.31
Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds

Date: 26-11-2015
RBI/2015-16/249 A.P. (DIR Series) Circular No.30
Advance Remittance for Import of aircrafts /helicopters / other aviation related purchases

Date: 26-11-2015
RBI/2015-16/248 A.P. (DIR Series) Circular No. 29
Import of Goods into India – Evidence of Import

Date: 26-11-2015
Service Tax Circular No.189/08/2015–ST
Clarification regarding leviability of service tax in respect of Seed Testing with effect from 01.07.2012

Date: 24-11-2015
Customs Notification No 113/2015 (NT)
Appointment of Common Adjudicating Authority

Date: 24-11-2015
Customs Notification No 114/2015 (NT)
Appointment of Common Adjudicating Authority

Date: 24-11-2015
Customs Notification No 115/2015 (NT)
Appointment of Common Adjudicating Authority

Exim Guru Copyright © 1999-2015 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. RSS


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