Bank Guarantee for temporary removal of goods by SEZ Unit

[Ashok Chopra]

Respected Forum,

I am SEZ Unit, my turnover for the year 2012-13 is less than Rs. 100.00 Lac,  Current year i.e. 2013-14 is more than Rs. 600.00 Lac.  I want to remove some goods temporarily to DTA for job work.

Is Bank Guarantee clause is applicable on me?, 

( It is written Bank guarantee is applicable, if the unit has not completed two years or its turnover is less than Rs. 100.00 Lac.)

if yes pls let me know about any notification to satisfy my management.

If this clause is not applicable on me, please also let me know about any clarification/circular/notification to satisfy my specified officer of custom.

With kind regard,

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.

AI Summary

Bank guarantee requirement for SEZ unit temporary removal queried; applicability tied to operational period and turnover criteria. Whether a Bank Guarantee is required for temporary removal of goods by an SEZ unit to the DTA for job work is questioned because prior-year turnover was below the exemption threshold while current-year turnover exceeds it; the unit requests notifications or circulars clarifying whether the bank guarantee condition is assessed by reference to turnover or completion of the required operational period and seeks authoritative guidance to satisfy management and a customs officer.