Bank guarantee requirement for removal of capital goods applies where unit lacks two years' export history under amended procedure. Units seeking removal of capital goods or inputs must furnish a bank guarantee equivalent to the duty foregone to the Deputy/Assistant Commissioner of Customs/Central Excise where the unit has not been in existence for two years or has not engaged in export of agriculture, horticulture or aquaculture products; the guarantee remains until the unit completes the two year requirement.
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 requirement for removal of capital goods applies where unit lacks two years' export history under amended procedure.
Units seeking removal of capital goods or inputs must furnish a bank guarantee equivalent to the duty foregone to the Deputy/Assistant Commissioner of Customs/Central Excise where the unit has not been in existence for two years or has not engaged in export of agriculture, horticulture or aquaculture products; the guarantee remains until the unit completes the two year requirement.
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