Bank Guarantee relaxation: export houses may clear imports under DEEC and EPCG schemes against bond without guarantees. Export Houses are permitted parity with Trading Houses to clear imports under DEEC and to clear capital goods under EPCG against a bond without a bank guarantee, except where the EPCG Committee specifically prescribes a bank guarantee. Under the zero-duty EPCG, exemption from bank guarantee on bond clearance is confined to Trading House tiers, while Export Houses may clear on bond subject to a reduced bank guarantee for the duty differential saved or any higher minimum prescribed by the EPCG Committee.
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 relaxation: export houses may clear imports under DEEC and EPCG schemes against bond without guarantees.
Export Houses are permitted parity with Trading Houses to clear imports under DEEC and to clear capital goods under EPCG against a bond without a bank guarantee, except where the EPCG Committee specifically prescribes a bank guarantee. Under the zero-duty EPCG, exemption from bank guarantee on bond clearance is confined to Trading House tiers, while Export Houses may clear on bond subject to a reduced bank guarantee for the duty differential saved or any higher minimum prescribed by the EPCG Committee.
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