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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Rules for Bank Guarantees: Exporters with Rs. 1 Crore in Exports or GST Now Exempt from Guarantees.</h1> The revised norms for executing Bank Guarantees under the Advance Authorisation (AA), Duty-Free Import Authorisation (DFIA), and Export Promotion Capital Goods (EPCG) schemes have been issued. Manufacturer exporters and service providers registered with GST, who have exported goods worth Rs. 1 crore or more or paid GST of Rs. 1 crore or more in the preceding financial year, are now eligible for Bank Guarantee exemptions. The requirement for certification by Central Excise authorities has been removed, allowing exporters to obtain certificates from Export Promotion Councils or Chartered Accountants. Other provisions remain unchanged, and issues should be reported to the Assistant/Deputy Commissioner.
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