General bond obligation for export oriented units secures duty free removals, provisional assessments and enforcement of export obligations. Form B 17 prescribes a General Bond for EOUs and specified park units as security for duty free procurement, duty free removal for export, limited domestic removals for repair or testing, and provisional assessments. The bond obliges compliance with Customs and Central Excise law, maintenance of prescribed accounts, proof of arrival, fulfillment of export obligations, payment of duties, penalties and interest on demand, and permits recovery from deposited securities or sureties where duties are not satisfactorily accounted for.
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Provisions expressly mentioned in the judgment/order text.
General bond obligation for export oriented units secures duty free removals, provisional assessments and enforcement of export obligations.
Form B 17 prescribes a General Bond for EOUs and specified park units as security for duty free procurement, duty free removal for export, limited domestic removals for repair or testing, and provisional assessments. The bond obliges compliance with Customs and Central Excise law, maintenance of prescribed accounts, proof of arrival, fulfillment of export obligations, payment of duties, penalties and interest on demand, and permits recovery from deposited securities or sureties where duties are not satisfactorily accounted for.
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