https://www.taxtmi.com/circulars?id=5518 Clarifies that the bond and Bank Guarantee amounts under Advance Authorization and EPCG schemes must be limited to the duty ordinarily leviable on the goods but for the exemption; interest, being penal and payable only on default, should not be added to the bond/BG quantum. Bonds must nonetheless include a condition that interest and other charges will be payable by the authorization holder in case of non-compliance, and trade notices and internal instructions should be issued to implement the clarification. en-us Wed, 28 Jan 2009 00:00:00 +0530 Thu, 29 Jan 2009 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5518 Clarifies that the bond and Bank Guarantee amounts under Advance Authorization and EPCG schemes must be limited to the duty ordinarily leviable on the goods but for the exemption; interest, being penal and payable only on default, should not be added to the bond/BG quantum. Bonds must nonetheless include a condition that interest and other charges will be payable by the authorization holder in case of non-compliance, and trade notices and internal instructions should be issued to implement the clarification. Circulars Customs Wed, 28 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5518