Bond obligations: Central Excise bonds secure compliance and permit conditional removal of goods without payment of duty. Central Excise bonds are instruments creating express monetary obligations to secure compliance and safeguard revenue, classified as surety (co extensive liability of a solvent guarantor) or security (realizable government instruments or cash). Bonds generally require surety for the full amount and security normally fixed at 25% of the bond amount; specified exporter categories and certain units may be exempted or given reduced security requirements. Formal requirements include execution on appropriately stamped non judicial paper in favour of the President of India, preservation until obligations are discharged, and periodic verification of sureties.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Bond obligations: Central Excise bonds secure compliance and permit conditional removal of goods without payment of duty.
Central Excise bonds are instruments creating express monetary obligations to secure compliance and safeguard revenue, classified as surety (co extensive liability of a solvent guarantor) or security (realizable government instruments or cash). Bonds generally require surety for the full amount and security normally fixed at 25% of the bond amount; specified exporter categories and certain units may be exempted or given reduced security requirements. Formal requirements include execution on appropriately stamped non judicial paper in favour of the President of India, preservation until obligations are discharged, and periodic verification of sureties.
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