Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Custom
Circular No. 40/2010 - Customs
New Delhi, the 28th October, 2010
To
All Chief Commissioners of Customs
All Chief Commissioners of Customs & Central Excise/ Central Excise
All Director Generals under CBEC,
All Commissioners of Customs, Customs (Preventive)
All Commissioners of Customs & Central Excise/ Central Excise
The Chief Departmental Representative of Customs, Excise & Service Tax Appellate
Tribunal.
Sir/Madam,
Sub: Revised Form of Bond to be furnished for availing duty exemption under
Advance License and EPCG Schemes – reg.
I am directed to invite attention to the Board’s circular
No.58/2004-Cus dated
21.10.2004 which prescribes form of bond to be furnished for availing duty
exemption under Advance License and EPCG Schemes. Condition 1 of the prescribed
form of bond reads as under:
“1. I / we, the obligor(s) shall observe all the terms and conditions of the
said notification.”
- The benefit of zero duty EPCG scheme which is governed by notification
Nos.
101/09-Cus and
102/09-Cus both dated 11.09.09 is subject to the condition that
the importer should not have been issued in the year of issuance of zero duty
EPCG authorization, the duty credit scrips under SHIS scheme. Since there are
conditions in the EPCG notification which an authorization holder should fulfil
at the time of import for being eligible for duty exemption, it has been decided
to change condition 1 of the prescribed form of bond as under:
“1. I/we, the obligor(s) fulfil all the conditions of the said notification and
shall observe and comply with all its terms and conditions.”
- A suitable Public Notice for information of the Trade and Standing Order for
guidance of the staff may be issued. Difficulties faced, if any in
implementation of this circular may be brought to the notice of the Board.
Kindly acknowledge receipt of this Circular.
(Pramod Kumar)
Technical Officer (DBK)
F.No.605/91/2009-DBK