Execution of Bond and Bank Guarantee under Advance Licence and EPCG Schemes-reg.

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.... Nil (b) Service providers who are recognized as status holders by the appropriate authority Nil (c) Manufacturer exporters registered with Central Excise who have been exporting during the previous two financial years and have minimum export of ₹ 1 crore or more during the preceding financial year. Nil (d) Manufacturer exporters registered with Central Excise, who have paid Central Excise Duty of ₹ 1 crore or more during the preceding financial year. Nil (e) Manufacturer exporters who are not covered under (a), (c) & (d) above 25% (f) others 100% 2. For the category of importers mentioned at (a) to (d) above, a bond without surety shall be accepted for the purpose of permitting import of goods under Advance Licence/....

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....here an importer so requests, a Bank Guarantee may be taken consignment-wise subject to the condition that such consignment wise BG shall only be acceptable by Customs at the port of registration of the licence. 5. Bond/BG shall be filed for a minimum period of 3 years with an undertaking to keep the BG alive for the entire period of export obligation viz 8+1=9 years or 12+1=13 years etc. under EPCG Schemes as the case may be. 6. Custom House shall properly maintain Bond/BG registers and ensure that wherever the Bank Guarantee are not renewed in time recovery action is initiated by enforcement of the Bank Guarantee within time. Customs shall also ensure that wherever required, Bank Guarantees are renewed well in time. 7. In the case of s....

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....ntitled for BG exemption. 9. It shall be responsibility of the jurisdictional Superintendent of Central Excise that while issuing Certificate about export performance in terms of para 1 (c) or about the fact of payment of Central Excise duty for the purpose of para 1 (d) he satisfies himself about the genuineness of the declaration being given by the licence holder. 10. In order to thwart attempts to misuse the Advance Licence Schemes, DGFT authorities shall endorse a copy of the Advance Licence to the concerned Central Excise authorities by fax or e-mail with requiest to intimate the concerned DGFT Authority in case the party appears to be bogus/non-existent. In all cases where on physical verification by central Excise, the party is fou....