Value for execution of pd bond

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ramya (Querist)

31 December 2012 Dear sirs, Please let me know how to arrive at the value for PD bond (SVB) for pharma imports. Should the bond value be 100% of assessible value of imports or is it only 1% ? Please advise basis of calculation

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

02 January 2013 at the time of provisional assessment of all their imports in the Appraising Group and execute PD Bond with 1% Extra Duty Deposit on the assessable value of the goods. Along with the PD Circular a questionnaire is also issued to be filled up by the importer along with the list of all documents required to be submitted. The amount of extra duty deposit presently kept at 1% will be continued. Board has however decided that if the importer does not furnish complete reply to the questionnaire within 30 days of receipt of the 'Questionnaire' by the importer, the extra duty deposit will be increased to 5% till the date of receipt of reply by the Department.

FURTHER INFO:

https://www.jawaharcustoms.gov.in/jnch/pn/pn2003/PN-49-03.htm

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