Revised Norms for Execution of Bank Guarantee under Advance Authorisation, DFIA and EPCG Schemes

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....LIC NOTICE NO. 74/2019 Sub:- Revised Norms for Execution of Bank Guarantee under Advance Authorisation, DFIA and EPCG Schemes - reg. Attention of the Importers, Exporters, General Trade, Custom Brokers and all other stakeholders in the jurisdiction of Chennai Customs Zone, Chennai is invited to the Board's Circular No. 31/2019-Customs dated 13.09.2019 on the above mentioned subject. 2. Th....

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.... inter alia prescribes the norms for execution of Bond/Bank Guarantee in respect of imports made under the AA, DFIA and EPCG Schemes. The said Circular and amending Circular No. 17/2009-Cus dated 25.05.2009 extend exemption from execution of Bank Guarantee based on export turnover, quantum of duty, tax paid etc. 4. In the wake of GST regime, the norms for execution of Bank Guarantee under AA, DF....

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....gory (e) of importers specified in Table given in para 3.1 of the said Circular. 5. In order to avoid difficulties in the GST regime regarding furnishing of proof of export performance or payment of duty required to be certified by the jurisdictional Superintendent of Central Excise (para 3.2(b) of the said Circular), it has been decided to discontinue the requirement for procurement of such cer....