TMI BlogWaiver of Bank GuaranteeX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, We are an 100% EOU. Till last year our unit was under Customs control and now it is changed into Central Excise control. Initially we have executed a B17 bond with Bank Guarantee. Sinc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the imports are increased we would like to execute a further bond. Now the issue is Excise Authorities are insisting us to arrange a BG with 2 years validity and also further 2 years claim period wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ereas the banker is not accepting this further 2 years clause as the standard condition is only 6 months after validity of the BG. We are also a member in Export Promotion Council. Our turnover cros ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed Rs.5 Crores only from the current year (2010-11) . In this situation is there any notification to waive BG. If so kindly advise. - Reply By CA Rachit Agarwal - The Reply = You have to convince y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... our banker. BG can be issued for the period of 2 years. You have to get the sanction of limits with your bank for allowing open such BG - Waiver of Bank Guarantee - Query Started By: - RAMESH ANANTH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AKRISHNAN Dated:- 2-3-2011 Central Excise - Got 1 Reply - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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