Circular No.ES/159 / 2016-17 October 27, 2016
To: Members of the Council
Sub: - Execution of Bond and Bank Guarantee (BG) for the purpose of permitting clearance of imported goods under Advance License/EPCG Schemes ; supersession to earlier Public Notice No. 84/2011 and Public Notice No. 81/2011
Dear Member,
This is to inform you that the Office of the Commissioner of Customs, JNCH (Nhava Sheva) has issued Public Notice No. 140/2016 dated 25.10.2016 on the above subject.
In this connection, Board’s Circular No 17/2009- Cus dated 25.05.2009 has prescribed norms for Execution of Bond and Bank Guarantee for the purpose of permitting clearance of imported goods under Advance License/EPCG Schemes. Also, Paragraph 3.1 of the Circular No. 58/2004- Cus dated 21.10.2004 as amended by Board Circular No. 17/2009- Cus has prescribed quantum of Bank Guarantee/ Cash Security.
As per Customs Facility Notice No. 79/2009 dated 01/10/2009, Public Notice No. 81/2011 dated 16.05.2011 and Public Notice No. 84/2011 dated 01.06.2011, it has been decided to revise the procedure being followed in respect of registration of licenses and execution of Bond and Bank Guarantee for the purpose of permitting clearance of imported goods under Advance License/ Export Promotion Capital Goods (EPCG) Schemes.
Members may kindly make note of the above.
Thanking you,
V. ANIL KUMAR
EXECUTIVE DIRECTOR
