Duty-free import procedure for nominated agencies requires bonds and bank guarantees; exporters must furnish proof of export. Nominated agencies supplying duty free gold, silver and platinum must clear exempted imports on a bill of entry for home consumption and not under warehousing; transitional storage in existing licensed vaults is allowed. Agencies must execute bonds to maintain accounts and to cover duty liability if exporters fail to meet export obligations, and must furnish a bank guarantee with limited exemptions for designated banks and certain public sector undertakings. Exporters/EOUs must register or self declare, supply proof of export within the Foreign Trade Policy period, and nominated agencies must file monthly exporter wise accounts and deposit duty where export proof is not produced.
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Provisions expressly mentioned in the judgment/order text.
Duty-free import procedure for nominated agencies requires bonds and bank guarantees; exporters must furnish proof of export.
Nominated agencies supplying duty free gold, silver and platinum must clear exempted imports on a bill of entry for home consumption and not under warehousing; transitional storage in existing licensed vaults is allowed. Agencies must execute bonds to maintain accounts and to cover duty liability if exporters fail to meet export obligations, and must furnish a bank guarantee with limited exemptions for designated banks and certain public sector undertakings. Exporters/EOUs must register or self declare, supply proof of export within the Foreign Trade Policy period, and nominated agencies must file monthly exporter wise accounts and deposit duty where export proof is not produced.
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