Norms for Execution of Bank Guarantee in respect of Advance License/Export Promotion Capital Goods (EPCG) Schemes – reg.

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.... New Delhi, dated the 18^th December, 2014 To All Chief Commissioners of Customs / Customs ( Prev )/ Central Excise & Customs, All Directors General of CBEC / Chief Commissioner (AR), CESTAT, All Commissioners of Customs/Customs ( Prev )/Customs & Central Excise/Commissioners (Appeals) Subject: Norms for Execution of Bank Guarantee in respect of Advance License/Export Promotion Cap....

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....has been penalized, the exemption (Nil or 15% or 25%) from BG becomes inadmissible and 100% BG becomes applicable to the relevant category of importer specified in para 3.1 of the Circular. 3. It has been brought to notice of the Board that in the above situation the exemption from BG becomes inapplicable (i.e. trade facilitation gets affected) even if there is absence of risk to revenue. 4.....