Bond condition for duty exemption: revised to require fulfilment of notification conditions before import and compliance with terms. The prescribed bond form for Advance License and EPCG duty exemption is amended: Condition 1 now states that the obligor 'fulfil[s] all the conditions of the said notification and shall observe and comply with all its terms and conditions,' reflecting the requirement that importers meet notification conditions at the time of import under the zero-duty EPCG scheme. A Public Notice for trade and a Standing Order for staff should be issued, and implementation difficulties notified to the Board.
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.
Bond condition for duty exemption: revised to require fulfilment of notification conditions before import and compliance with terms.
The prescribed bond form for Advance License and EPCG duty exemption is amended: Condition 1 now states that the obligor "fulfil[s] all the conditions of the said notification and shall observe and comply with all its terms and conditions," reflecting the requirement that importers meet notification conditions at the time of import under the zero-duty EPCG scheme. A Public Notice for trade and a Standing Order for staff should be issued, and implementation difficulties notified to the Board.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.