Bank Guarantee/LUT facility governs importability conditions for vehicles under the EPCG scheme, replacing earlier full bank guarantee requirement. The DGFT withdraws the earlier prescription of a 100% Bank Guarantee for importability of cars and similar vehicles under the EPCG scheme because Public Notice No. 53 permits a Bank Guarantee/LUT facility; BG/LUT conditions are to be endorsed on the licence or attached condition sheet in accordance with that Public Notice and its amendments.
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.
Bank Guarantee/LUT facility governs importability conditions for vehicles under the EPCG scheme, replacing earlier full bank guarantee requirement.
The DGFT withdraws the earlier prescription of a 100% Bank Guarantee for importability of cars and similar vehicles under the EPCG scheme because Public Notice No. 53 permits a Bank Guarantee/LUT facility; BG/LUT conditions are to be endorsed on the licence or attached condition sheet in accordance with that Public Notice and its amendments.
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