Customs - No Bank Guarantee For PSUs for Storing Goods in Duty Free Shops
CBEC has clarified that all Central and State Public Sector Undertakings shall be exempt from furnishing Bank guarantee or other form of security for storing sensitive goods in the duty free shops operated by them. The execution of a double duty bond and other requirements stipulated under Circular No. 99/95-Customs dated September 20, 1995 would, however, remain.
CBEC Circular No. 26/2012-Cus., Dated: September 10, 2012