Continuity bond: B 17 bond suffices for EOUs; import estimates can be revised and inter unit transfers incur GST, customs rules apply. The B 17 general purpose running bond satisfies the continuity bond requirement under the IGCR Rules; estimated import quantities/values may be furnished for periods up to one year but may be submitted for shorter periods and amended; during the transitional period units may use either Rule 5 procedure or procurement certificates; inter unit transfers occur on invoice with GST, without immediate customs duty, supplier to endorse customs exemption availed, and recipient liable for basic customs duty when goods or finished products enter the domestic tariff area.
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.
Continuity bond: B 17 bond suffices for EOUs; import estimates can be revised and inter unit transfers incur GST, customs rules apply.
The B 17 general purpose running bond satisfies the continuity bond requirement under the IGCR Rules; estimated import quantities/values may be furnished for periods up to one year but may be submitted for shorter periods and amended; during the transitional period units may use either Rule 5 procedure or procurement certificates; inter unit transfers occur on invoice with GST, without immediate customs duty, supplier to endorse customs exemption availed, and recipient liable for basic customs duty when goods or finished products enter the domestic tariff area.
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