| Date: |
02-01-2003
|
| Notification No: |
Central Excise Circular No 686/2003
|
| Issuing Authority: |
Central Excise
|
| Type: |
Circular
|
| File No: |
|
| Subject: |
Regarding Provisional Release of Seized Goods and Execution of B-8 Bond
|
|
Regarding Provisional Release of Seized Goods and Execution of B-8 Bond
Central
Excise Circular No. 686 dated 2nd January 2003
I
am directed to draw your attention to para 3.2 (Part 1) of Chapter 17 in the
Central Excise Manual Supplementary instructions on provisional release of
seized goods wherein it has been mentioned that the goods may be released
provisionally under bond in the format specified under erstwhile Central Excise
Rules, 1944 [B.8 Bond] along with 25% security or surety by the officer normally
competent to adjudicate the case. It has been brought to the notice of Board
that under the erstwhile rules, bond B-8 was used for due disposal of the goods
obtained under concessional rate of duty to be used for special industrial
purposes.
2.
The matter has been examined. It is seen that B-8 bond has been mentioned
inadvertently in the instructions relating to provisional release of seized
goods. There has been no change in the format specified under the earlier rules
except that the reference to old rules may be changed to new set of rules.
Accordingly, it is clarified that old B-11 Bond which was hitherto being used
for provisional release of seized goods may be used under the existing
instructions also.
|
|
|