Exemption from bank guarantee for status hotels allows import of cars under EPCG; other licence holders must provide BG. Hotels holding status certificates may import cars and microbuses under the EPCG scheme without executing a bank guarantee (BG) equal to the duty saved amount; both status and non status hotel and tourism licence holders may apply for imports under the scheme, but all applicants except the expressly exempted status hotels must submit a BG equivalent to 100% of the duty saved amount.
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.
Exemption from bank guarantee for status hotels allows import of cars under EPCG; other licence holders must provide BG.
Hotels holding status certificates may import cars and microbuses under the EPCG scheme without executing a bank guarantee (BG) equal to the duty saved amount; both status and non status hotel and tourism licence holders may apply for imports under the scheme, but all applicants except the expressly exempted status hotels must submit a BG equivalent to 100% of the duty saved amount.
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