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

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....sed Norms for Execution of Bank Guarantee under Advance Authorisation, DFIA and EPCG Schemes reg. Attention of all the Importers, Trade and Stake holders is drawn to the CBIC Circular 31/2019 dated 13.09.2019. Board is in receipt of references from field formations and inputs from trade and industry seeking clarification as to what should be the basis for waiver of Bank Guarantee to be executed....

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....09-Cus dated 25.052009 extend exemption from execution of Bank Guarantee based on export turnover, quantum of duty, tax paid etc. 3. In the wake of GST regime, the norms for execution of Bank Guarantee under AA, DFIA and EPCG schemes have been reviewed and the following clarification is given:- (i) Manufacturer exporters/ Service Providers registered with the GST authorities (Centre/St....

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....yment 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 certificate from Central Excise authorities. In other words, in cases where the AA/DFIA/EPCG authorisation holder is a registered member of an Export Promotion Council, he shall produce a certifi....