Clarifications in respect of quantum of Bond and Bank Guarantee (BG) under Advance Authorization and Export Promotion Capital Goods schemes

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.... F. No. S/12-Misc-63/09 AM(X) Date :18.03.2009 PUBLIC NOTICE NO. 12/2009 Sub: Clarifications in respect of quantum of Bond and Bank Guarantee (BG) under Advance Authorization and Export Promotion Capital Goods schemes reg. Attention of all the exporters, trade and industry, CHA and all concerned is invited to the Boards circular No. 4/2009-Cus. dated 28 January,2009 vide F.No. 605/6....

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....on holder defaults in discharging his obligations under the above schemes. Hence, it is not the intention of the Board to add the interest component either simple or compound for the purpose of calculation of bond amount under the said Para in respect of clearances of EPCG/Advance Authorisations. The assessee, however, binds himself to pay the interest in case of default as specified in condition ....