Export Goods - Outgoing Vessels - Procedure Relaxed

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....xport Goods - Outgoing Vessels - Procedure Relaxed <br>News and Press Release<br>Dated:- 14-2-2007<br><BR>CBEC has issued a circular / instruction no. F.No.450/ 10 /2007-Cus.IV dated 13-02-2007 for Di....

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....spense with practice for recovery of revenue deposit of Rs. 3000/- u/s. 42 of the Customs Act, 1962. Accordingly, the board has withdraws its earlier instructions vide F.No. 28/12/70-Cus IV dated 22.....

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....5.1970 regarding security deposit in respect of foreign going & coastal vessels under section 42 of the Customs Act, 1962. Accordingly, the quantum of deposit of Rs.3000/- and Rs.1000/- is taken from ....

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....foreign vessel and coastal vessel, respectively, for covering liabilities of individual vessels. When shipping Lines handle a number of vessels, a one time deposit of Rs.15,000/- and Rs.5,000/- is tak....

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....en for the foreign going and coastal vessels respectively. It is welcome step and now no foreign going & coastal vessels are required to deposit security.<BR> News - Press release - PIB....