Grant of waiver of the requirement of Bank Guarantee in respect of imported goods to be warehoused in Public or Private Bonded Warehouses – regarding

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....LC Government of India Ministry of Finance Department of Revenue ….. New Delhi, the 24th April, 2007 Sub : Grant of waiver of the requirement of Bank Guarantee in respect of imported goods to be warehoused in Public or Private Bonded Warehouses - regarding - …… I am directed to refer to Board's Circular No.68/95, dated 15.06.1995 and No.99/95, dated 20.09.1995 (F.No.473/61/94-LC) l....

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....Circular No.99/95 provides that in respect of sensitive goods, we may take a Cash deposit or Bank guarantee equal to 25% of the duty liability for each consignment. The said circular also specifies that where a warehouse keeper wants to have revolving bond with a single Bank guarantee for a higher amount, it can also be accepted and a suitable credit/ debit system for each consignment warehoused/ ....