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of <h1>EPCG Scheme Update: Port Handling Service Providers Can Now Provide 25% Bank Guarantee for Capital Goods Imports.</h1> The circular amends previous guidelines regarding the execution of bonds and bank guarantees under the Advance Licence and EPCG Schemes. Initially, the bank guarantee requirement for certain manufacturer exporters was reduced from 25% to 15%, and this benefit was extended to units in Agri Export Zones and service providers with significant foreign exchange earnings. The amendment now allows service providers in the port handling sector, appointed as custodians by Customs authorities, to provide a 25% bank guarantee for importing capital goods under the EPCG Scheme, reducing their transaction costs. A trade notice will be issued for guidance, and any implementation issues should be reported to the Board.
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