Circular No. 41/97-Cus.
dated 19/9/97
F.No. 473/31/97-LC
Government of India
Ministry of Finance
Department of Revenue, New Delhi
Subject : Transfer of imported goods for re-warehousing from major port to inland warehousing station – Need for adequate security for customs duty – Reg.
I am directed to refer to Board’s Circular No. 29/95 dated 29th March, 1995 (issued from F. No. 473/6/95-LC) on the above subject and to say that as a measure of further relaxation, it has been decided to do away with the requirement of 5% Bank Guarantee in the case of imported goods of 100% E.O.Us/EHTP/STP and EPZ Units. However, a transit bond or an insurance policy equivalent to the amount of duty involved may be obtained on the condition that re-warehousing certificate would be submitted within a period of 30 days from the date of despatch of the goods from the port/ airport of import. Where the party fails to produce the re-warehousing certificate within 30 days consecutively for more than three consignments, he would be required to support their Bond with 100% Bank Guarantee.
2. The Board’s instructions dated 29th March, 1995 may be considered modified to the above extent. You are, therefore, requested to issue suitable instructions to the field formation.
