https://www.taxtmi.com/circulars?id=55522 Prescribes acceptance of bonds and bank guarantees for imports under Advance Licence and EPCG schemes, exempting recognised status-holders and qualifying manufacturer-exporters from BGs while others face partial or full BG requirements. Exemptions permit a bond without surety in the prescribed format but are conditional on no prior export-obligation defaults, no penalisation under specified statutes, and verification of export performance or excise duty payment by the jurisdictional Superintendent of Central Excise. Customs may require BGs where revenue risk exists; bonds/BGs must be maintained for the full export-obligation period and Customs must enforce renewals and recoveries. en-us Mon, 08 Sep 2003 00:00:00 +0530 Mon, 26 Dec 2016 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=55522 Prescribes acceptance of bonds and bank guarantees for imports under Advance Licence and EPCG schemes, exempting recognised status-holders and qualifying manufacturer-exporters from BGs while others face partial or full BG requirements. Exemptions permit a bond without surety in the prescribed format but are conditional on no prior export-obligation defaults, no penalisation under specified statutes, and verification of export performance or excise duty payment by the jurisdictional Superintendent of Central Excise. Customs may require BGs where revenue risk exists; bonds/BGs must be maintained for the full export-obligation period and Customs must enforce renewals and recoveries. Circulars Customs Mon, 08 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=55522