| Date: |
19-09-1997
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| Notification No: |
Customs Circular No 41/1997
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| Issuing Authority: |
Indian Customs
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| Type: |
Circular
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| File No: |
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| Subject: |
Regarding transfer of imported goods for re-warehousing from major port to inland warehousing station - Need for adequate security for customs duty
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Regarding transfer of imported goods for re-warehousing from major port
to inland warehousing station - Need for adequate security for customs duty
Circular No. 41dated 19th September 1997
I am directed to
refer to Board's Circular No. 29/ 95 dated 29th March, 1995 (issued from F. No.
473/ 6/ 95-LC) on the above subject and to say that as a measure of further
relaxation, it has been decided to do away with the requirement of 5% Bank
Guarantee in the case of imported goods of 100% EOUs/ EHTP/ STP and EPZ Units.
However, a transit bond or an insurance policy equivalent to the amount of duty
involved may be obtained on the condition that re-warehousing certificate would
be submitted within a period of 30 days from the date of despatch of the goods
from the port/ airport of import. Where the party fails to produce the
re-warehousing certificate within 30 days consecutively for more than three
consignments, he would be required to support their Bond with 100% Bank
Guarantee.
2. The
Board's instructions dated 29th March 1995 may be considered modified to the
above extent. You are, therefore, requested to issue suitable instructions to
the field formation.
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