Containers/cargo—Movement of containers Board issues instructions
Containers which are of durable nature and intended to be imported temporarily are exempt from the levy of Customs duties by Notification No. 104/94-Customs, dated 16th March, 1994 subject to the condition of re-export within a period of six months from the date of importation and subject to other conditions specified in the notification.
As different practices are prevailing in the field, the Board has issued the following instructions for uniformity.
(i) The nature of bond should be “continuity bond”.
(ii) No Bank Guarantee / Security is required is furnished along with the bond.
(iii) Bond should be executed by shipping line, Non Vessel Owning Common Carrier (NVOCC), Steamer agents or their authorised representatives.
(iv) The bond amount should cover only the duty element of the imported containers and not the cargo it is carrying.
(v) The validity period of the bond should be for a year which would be extendable till further such period as requested by the person executing the bond.
(vi) While Directorate of Systems and Data Management is developing a module for automatic matching of imported and export containers within permissible time, the process of monitoring of period of temporary importation should be done manually in respective Customs houses till such time.
(vii) The extension of time period of six months should be done in accordance with the Circular No. , dated 5-11-1998.
CIRCULAR NO. dated the July 25, 2005