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Clarification on Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017-reg.

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..... 2017 To All Principal Chief Commissioner/Chief Commissioner of Customs /Custom (Preventive), All Principal Chief Commissioner/Chief Commissioner of Central Tax, All Principal Commissioner/Commissioner of Customs / Customs (Preventive), All Principal Commissioner/ Commissioner of Central Tax. Sir /Madam, Subject: Clarification on Customs (Import of Goods at Concessional Rate .....

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..... f submission of surety or security in the rules, is posing a major challenge for domestic industry particularly electronic hardware manufacturers as submission of surety increases the transaction cost hampering their efforts to optimise the manufacturing capacity. 4. In this regard, it is worthwhile to mention that the option to furnish surety or security along with the Bond is given, in orde .....

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..... a) All importer (s) who are either a department of Central Government or a State Government or a Union Territory or a Public Sector Undertaking or an autonomous institute under the said governments. Bank Guarantee/Cash Security-Nil Surety-Not required. b) All importers who are Authorized Economic Operators. c) All importers who are man .....

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..... e of Duty) Rules, 2017 . 6. The upper limit of Bank Guarantee/ Cash Security to the extent of 5% and 25% respectively has been fixed unless the Deputy Commissioner or the Assistant Commissioner has reasons to demand a higher quantum of Bank guarantee/ cash security, in which case the matter shall be referred to the jurisdictional Commissioner who may order for higher quantum of Bank Guarantee .....

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..... ding order, for guidance of the concerned officers. Difficulty, if any, in implementation of the above directions may be brought to the notice of the Board. 10. Hindi version will follow. Yours faithfully (Zubair Riaz) Director (Customs) - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - t .....

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