Execution of BG/LUT in respect of EPCG Licences

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Full Text of the Document

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....4.19 of the Export and Import Policy, 1997-2002 (RE-2000), which stipulates that wherever any duty free import is allowed or where otherwise specifically stated, the importer shall execute a Legal Undertaking (LUT)/ Bank Guarantee (BG) with the Customs Authority before clearance of goods through the Customs, in the manner as may be prescribed by them. Attention is also invited to para 4.24 of Hand....