TaxTMI 
TaxTMI 
TaxTMI 
Can I eligible for BG exemption under public notice 140/2016 -Custom if I am merchant exporter and have turnover of more than 5cr to EOU unit ?Para (A) Table 3.1 of PN 140/2016 or circular 58/2004 says for physically export.
Custom act 1962,FTP 2023-24 I took advance license under notification 21/2023 for physical export
Dinesh kumar
Whether PN 140/2016 BG exemption (Para A Table 3.1) covers merchant exporters to EOUs under Circular 58/2004 The poster, having obtained an advance license under Notification 21/2023 for physical export, asks whether a merchant exporter with turnover over Rs.5 crore exporting to an EOU qualifies for bank guarantee exemption under Public Notice 140/2016, citing Para A Table 3.1 and Circular 58/2004 which address physical exports. The core legal issue is whether PN 140/2016's BG exemption applies to merchant exporters supplying EOUs and whether the stated turnover threshold and physical export provisions encompass such transactions under the Customs/Exim framework. (AI Summary)