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



				
       


DO YOU NEED HELP?







Enquiry Form

Fields marked with an asterisk * are required.

 




What is New?

Date: 12-02-2016
Customs Notification No. 24/2016 (NT)
Exchange Rate notification with effect from 13th February, 2016 thereby amending Notification No.18/2016-Customs (N.T.), dated 4th February, 2016

Date: 12-02-2016
Trade Notice No. 18/2016
Instruction on applications for IEC / modification in IEC - reg.

Date: 12-02-2016
Central Excise Notification No. 04/2016 CE (NT)
Notification under Section 11C of the Central Excise Act on Di-Calcium Phosphate (animal feed grade) of rock phosphate origin falling under heading 2835.

Date: 11-02-2016
DGFT Notification No. 39/2015-2020
Procedure for export of sesame seeds to the European Union countries - Deferment of implementation regarding.

Date: 11-02-2016
RBI/2015-16/319 A.P. (DIR Series) Circular No. 52
Regulatory Relaxations for Startups- Clarifications relating to Issue of Shares

Date: 11-02-2016
RBI/2015-16/318 A.P. (DIR Series) Circular No. 51
Regulatory relaxations for start-ups- Clarifications relating to acceptance of payments

Date: 11-02-2016
RBI/2015-16/317 A.P. (DIR Series) Circular No. 50
Compilation of R-Returns: Reporting under FETERS

Date: 10-02-2016
Trade Notice No. 16/2015
Closure of Advance Authorisation licences as per para 4.16(a) of FTP 2009-14, pending for want of payment to be received from Foreign currency account of SEZ unit.

Date: 10-02-2016
Trade Notice No. 17/2016
Clarification on the Notification No. 38 dated 5.2.2016 regarding Minimum Import Price (MIP) on Iron & Steel under Chapter 72 of ITC (HS) 2012-Schedule 1 import policy

Date: 09-02-2016
Central Excise INSTRUCTION
Effect of 'in limine' dismissal of Special Leave Petition (SLP) by the Supreme Court and Filing of Review Petition in Supreme Court



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. RSS

EximGuru.com

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