Duty foregone calculation: B-17 bond debit limited to a proportion of capital goods duty rather than the full amount. Where capital goods are freshly imported or locally procured under the B-17 bond regime, only 25% of the duty foregone shown in the Bill of Entry/AR-3 shall be debited against the bond rather than the entire duty-foregone amount, thereby modifying the earlier circular; Public Notice to be issued and implementation difficulties may be reported to the Board.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Duty foregone calculation: B-17 bond debit limited to a proportion of capital goods duty rather than the full amount.
Where capital goods are freshly imported or locally procured under the B-17 bond regime, only 25% of the duty foregone shown in the Bill of Entry/AR-3 shall be debited against the bond rather than the entire duty-foregone amount, thereby modifying the earlier circular; Public Notice to be issued and implementation difficulties may be reported to the Board.
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