https://www.taxtmi.com/circulars?id=997 Banks nominated as agencies may use licensed branch vaults instead of separate bonded warehouses, keep segregated duty free accounts, submit branch or head office bonds under Section 59 covering duty liability for maximum likely stocks, and operate without separate bank guarantees for those bonds; banks must allow periodic surprise stock verifications and exporters clear metals from banks against their own bonds and guarantees while customs may recover duties and encash guarantees on default. en-us Mon, 13 Oct 1997 00:00:00 +0530 Wed, 06 Aug 2025 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=997 Banks nominated as agencies may use licensed branch vaults instead of separate bonded warehouses, keep segregated duty free accounts, submit branch or head office bonds under Section 59 covering duty liability for maximum likely stocks, and operate without separate bank guarantees for those bonds; banks must allow periodic surprise stock verifications and exporters clear metals from banks against their own bonds and guarantees while customs may recover duties and encash guarantees on default. Circulars Customs Mon, 13 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/circulars?id=997