bank guarantee value

[simran oberoi]

I need to import 2nd machine for which i am applying EPCG. how much is the bank guarantee i have to provide to customs for clearing the machine .

note :- i am not registered with Central excise an company is formed on 6 june 2016 (after GST )

already exported around 35 lac in 8 months .( only exports). since first machine cleared under 100 percent bank guarantee till now.

we are manufacturer exporter and not third party exporter.

Thanks for your help

[DR.MARIAPPAN GOVINDARAJAN]

It will be decided by the Authority concerned considering the value of the machine and other factors.

[simran oberoi]

dear Sir .

The value of he machine is approximately INR:- 1,21,40000.

The total IGST :- 18 percent and approximately customs :- 9 percent .

If the EPCG is issued with both considering IGST and customs i.e 27 percent .

The Bank guarantee amount will be either 100 percent of 27 percent or 15 percent of 27 percent

We are already manufacturer exporter but do not have central excise number and are exporting since last 9 months only .

[Raghunandhaanan rvi]

Hi

Import of Second hand capital goods not allowed under EPCG Scheme

as per Appendix 5F of Handbook Procedure - Vol 1

AI Summary

Bank guarantee requirement under EPCG: authority may fix full or reduced duty security; second hand capital goods barred. The customs authority decides the bank guarantee required under the EPCG scheme by reference to the machine's assessable value and applicable indirect taxes and duties, and may require either full or reduced security; additionally, Appendix 5F of the Handbook of Procedures disallows import of second-hand capital goods under EPCG.