TaxTMI 
TaxTMI 
Sir we take a bond under excise for goods removal UNDER conseciional rate of duty. sir we take that bond as on 12 March 2016.but sir now excise dept are saying that new f.y 2016-17 now coming so you surrender your bond and take new bond from 1 april 2016. sir plz tell me any solution regarding this.urgent QUERY sir
MATTER OF EXCISE BOND
29 Mar 2016 
4 Replies 
1047 Views Asked by
Excise bond continuity: bond need not be re-executed for new fiscal year unless duty exposure exceeds bond amount.
Rule 4 of the Removal of Goods (Under Concessional Rate of Duty) Rules, 2016 requires financial-year wise numbering of intimations and execution of a general bond with surety, but does not require bonds to be executed anew each financial year; a fresh or additional bond is needed only if the duty exposure in the next financial year exceeds the amount secured by the existing bond. (AI Summary)
Rule 4 of the Removal of Goods (Under Concessional Rate of Duty) Rules, 2016 requires financial-year wise numbering of intimations and execution of a general bond with surety, but does not require bonds to be executed anew each financial year; a fresh or additional bond is needed only if the duty exposure in the next financial year exceeds the amount secured by the existing bond. (AI Summary)