| Date: |
31-01-2002
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| Notification No: |
Central Excise Circular No 613/2002
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| Issuing Authority: |
Central Excise
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| Type: |
Circular
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| File No: |
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| Subject: |
Regarding Board’s Circular No. 586/23/2001-CX dated 12.9.2001 – Furnishing of security/ surety by Merchant Exporters
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Regarding Board�s Circular No. 586/23/2001-CX dated 12.9.2001 �
Furnishing of security/ surety by Merchant Exporters
Circular No. 613 dated 31st
January 2002
I
am directed to refer to Circular of even number dated 24th January,
2002 and to say that it has been represented to the Board that field formations
are insisting on surety of full bond amount from Merchant Exporters registered
with Recognised Export Promotion Councils as the Board�s Circular (supra)
directs keeping in abeyance the instructions relating to security of 25% of
bond amount from such Merchant Exporters.
2.���� In
this regard, it is further clarified that the intention of the Board is that
the position prior to 1.9.2001 in respect of Merchant Exporters registered with
Recognised Export Promotion Council be restored in so far as relating to
furnishing security/ surety with bond executed for the purpose of export.
Accordingly, no security/ surety is required in respect of Merchant Exporters
who are registered with Recognised Export Promotion Councils.
3.����� The
field formations may suitably be informed.
4.����� Receipt of this
Circular may please be acknowledged.
5.����� Hindi version
will follow.
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