Epcg bank guarantee @ 15%
This query is : Resolved
sumit sethi
(Querist)
21 January 2017
Hy
We are importing machine under 0% EPCG. We want to apply as per 3.1(f) with 15% bank guarantee. We are registered with central excise, however we don't have past export record. our production will start post installation of machinery till date we have filled one excise return of "NIL" and our future production will be non-excise-able. Can we apply with 15% BG.
Reviews / suggestion please.
We are importing machine under 0% EPCG. We want to apply as per 3.1(f) with 15% bank guarantee. We are registered with central excise, however we don't have past export record. our production will start post installation of machinery till date we have filled one excise return of "NIL" and our future production will be non-excise-able. Can we apply with 15% BG.
Reviews / suggestion please.
Dr.RAMAKRISHNA. C
(Expert)
25 January 2017
Please refer to Customs Circular NO :58/2004 dated 21.10.2004 -Revised Norms for Execution of Bond and Bank Guarantee under Advance License and EPCG Schemes.
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