Clarification - custom bonding

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It is obligatory for EOU to work under Customs Bonding (Sec.58 & 65)even in case when no import of goods under  notifications no. 52/2003 ever required. There is no parella provision unlike EXIM POLIY given under new FTP. Comments with the authority.

AI Summary

EOUs Must Follow Customs Bonding Rules Under Sections 58 and 65, Irrespective of Import Exemption Notification 52/2003. An individual inquired about the necessity for Export Oriented Units (EOUs) to operate under Customs Bonding, even when not importing goods under notification no. 52/2003. The response clarified that once an entity opts for the EOU scheme and provides the necessary bond, it must adhere to all procedural formalities applicable to EOUs, regardless of whether goods are imported under the exemption notification. This requirement is mandated by Sections 58 and 65, with no parallel provisions under the new Foreign Trade Policy.