https://www.taxtmi.com/circulars?id=1206 Misuse of the bonded facility involves CHAs substituting imported raw materials with valueless goods, using fabricated Bills of Entry to obtain illicit MODVAT credit, and depositing originals in warehouses. Field formations are directed to perform stock verification of bonded goods held beyond one year, reconcile Customs bond records with warehouse records, profile high-risk goods and importers, and conduct selective sampling of suspect cases, with progress to be reported to the Board. en-us Tue, 14 Mar 2000 00:00:00 +0530 Mon, 28 Jul 2025 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1206 Misuse of the bonded facility involves CHAs substituting imported raw materials with valueless goods, using fabricated Bills of Entry to obtain illicit MODVAT credit, and depositing originals in warehouses. Field formations are directed to perform stock verification of bonded goods held beyond one year, reconcile Customs bond records with warehouse records, profile high-risk goods and importers, and conduct selective sampling of suspect cases, with progress to be reported to the Board. Circulars Customs Tue, 14 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1206