Circular No. 52/2004-Cus.
7th October, 2004
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and CustomsOnline GST Certification Course by TaxGuru & MSME- Click here to Join
Subject: Bank Guarantee for transshipment of import & export cargo from Gateway Ports to Feeder Ports/ICDs/CFSs and vice versa-regarding
I am directed to invite your attention to Board’s Circular No.78/2001-Cus., dated 7.12.2001 on the above mentioned subject. Trade has represented that “Shipping Lines” who are handling more than 5000 TEUs ( Import Containers) per financial year and involved in transshipment of import cargo from any Gateway Ports to feeder ports/ICDs/CFSs , should be exempted from furnishing Bank Guarantee. The Department of Commerce, Ministry of Commerce and Industry has also recommended the said proposal.
2. The matter has been examined by the Board and it has been decided to waive the condition of Bank Guarantee for “Shipping Lines” who are handling more than 5000 TEUs ( as Import Containers) in a financial year for the purpose of transshipment of import & export cargo from any Gateway Ports to feeder ports/ICDs/CFSs & vice versa, by Road.
3. The Circular No.78/2001-Cus., dated 7.12.2001 has been modified to the extent mentioned in para 2 above.
4. The above said instructions may be brought to the notice of all concerned.
5. Hindi version will follow.
Under Secretary to the Government of India