| Date: |
24-12-2001
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| Notification No: |
Central Excise Circular No 608/2001
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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: |
Board’s Circular No. 586/23/2001-CX dated 12.9.2001 - Regarding furnishing of security by merchant exporters
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Board�s Circular No. 586/23/2001-CX dated 12.9.2001 - Regarding
furnishing of security by merchant exporters
Circular
No. 608 dated 24th December 2001
I
am directed to refer to the New Central Excise Manual released on 1.9.2001 and
Board�s Circular No. 586/23/2001-CX dated 12.9.2001 wherein it is directed
that Merchant Exporters, other than the Status holders (Super Star Trading
House, Star Trading House, Trading House and Export House), have to, along with
the bond executed for purposes of exports, furnish a security of 25% of bond
amount, and to state that many representations have been received from the trade
stating that the new dispensation is adversely affecting the exports as the cost
of compliance has increased.
2.
The matter has been examined by the Board and in the interest of
facilitating exports it has been decided to keep the instruction regarding the
furnishing of 25% security in abeyance till further order in respect of Merchant
Exporters who are registered with a Recognised Export Promotion Council.
Accordingly, it is directed that 25% security may not be insisted upon from said
Merchant Exporters who are registered with a Recognised Export Promotion
Council.
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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