Amendment to Circular No. 54/2004-Customs - Foreign Trade Policy (FTP) announced on 31.8.2004- Amendment of notifications relating to EOU and Gems and Jewellery Export Promotion Schemes- Reg.

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.... of Customs & Central Excise All Commissioners of Customs & Central Excise (Appeals)     Sub:-  Waiver from the requirement of Bank Guarantee in respect of EOUs - Amendment to Circular No. 54/2004-Customs dated 13.10.2004 - reg.   ***                           Attention is invited to para 19 of the Board's Circular No. 54/2004-Customs dated 13.10.2004 which extends the facility of exemption from furnishing bank guarantee by 100% Export Oriented Units (EOUs) at the time of import or for sending goods on job work in Domestic Tariff Area (DTA).  2.    &nb....

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....  *6.12. (f):  Unit will not be required to furnish bank guarantee at the time of import or going for job work in DTA, where unit has             (i) a turnover of Rs. 5 crores or above;          (ii) unit is in existence for at least three years; and (iii) The unit:       (a)  has achieved positive NFE / export obligation wherever applicable; (b)  has not been issued a show cause notice or a confirmed demand, during the preceding 3 years, on grounds other than procedural violations, under the penal provision of the Customs Act, the Central Excise Act, the Foreign Trade (Developme....