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Is registration with excise mandatory for issue of b1 bond

EXICSE (Legacy) 411 views 1 replies

Dear Sir,

I am a merchant exporter dealing in various comodities including pharmaceuticals. We are not registered with Excise department however our suppliers (manufacturers) are registered with Excise department. From reading various forums i have got to know that a Merchant exporter can avail  Excise exemptions by furnishing the B1 bond and then following necessary procedures of procuring the CT1 and so on.

My query is specific to B1 Bond. Is the merchant exporter needed to be registered with Excise department to secure a B1 bond with the excise department in which jurisdiction his premises falls.

Looking forward to an early reply.

Regards

SAMEER UCHIL

Replies (1)

No need to obtain registration, you can obtain B-1 bond by submitting 

1) Bank surety or 

2) RCMC issued by the Export promotion council 

However all the procedures you have to follow otherwise department will levy duty + int+ penalty if the export proof is not submitted within 180 days of clearance from factory under bond and ARE-1 


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