IGCRD Rules

Dear Experts,

We are engaged in manufacturing of Kraft paper, and we used to import waste paper under IGCRD rules by executing Bond and bank Guarantee @ 5% on duty Forgone.

Also we are doing top-up to the bond once the bond value is exhausted with the new bank guarantee.  

Now the issue is, Our funds are keep on accumulating in the bank in the name of bank guarantee. 

For EOU units, there is a provision of Re-credit options, but not for DTA.

Please let us know, is there any provision to close this bond and bank guarantee. 

Or can we go with new bond and bank guarantee instead of Top ups ? please guide. 

Thanks in advance

Regards,

Manjunath S