Government of India
Ministry of Finance
Department of Revenue
New Delhi, the 25th May , 2009.
Circular No. 17/2009-Cus.
Sub: Norms for execution of Bank Guarantee under specified export promotion
schemes- Modifications in Circular No.58/04-Cus dt.21.10.04-reg.
I am directed to invite your attention to
Circular No.58/2004-Cus. dated
21.10.2004 (herein after referred to as ‘the said circular’) vide which revised
norms for execution of Bond / Bank Guarantee (BG) in respect of imports made
under the Advance Licence and EPCG Schemes were notified and to say that,
representations suggesting the following amendments in the said circular have
been received,-
- to consider the service exports at par with the physical exports and to extend
the benefit of exemption from BG to the service providers who fulfill the
criteria laid down in the circular ;
- to extend the benefits of the said circular to the imports under DFIA scheme;
- to consider the cumulative turnover of all the units of a manufacturer for the
purpose of eligibility for exemption under the circular if all the units are
operated under the same Importer Exporter Code (IE-Code).