CONTINUITY BOND VALIDITY UNDER EXCISE

[Rajeev Khulbe]

GOOD MORNING TO ALL EXPERT,

I AM HARE TO KNOW AGAIN GET YOUR VALUABLE REPLIES.

SIR I WANT TO KNOW THAT WHAT IS THE VALIDITY OF CONTINUITY BOND UNDER EXCISE.

AI Summary

Validity of Continuity Bonds Under Central Excise Clarified; Must Renew Upon Expiration; Commonly Used in Customs Laws A query was raised regarding the validity of continuity bonds under Central Excise. An expert clarified that a bond executed under Central Excise laws is valid for the period specified and must be renewed upon expiration. Other participants agreed with this view. Another expert noted that continuity bonds are more common in Customs laws rather than Central Excise, although they may be required for manufacturers under specific rules. There are no prescribed forms in Central Excise Rules, but forms from Customs laws may be used when necessary.