Import of Containers - Hike in Bond Amounts
WHEN goods are imported in a container, should customs duty be paid on the container? Obviously yes, because the container is also imported. But by Notification No. 104/94-Cus dated 16.03.1994, Government has exempted containers which are of durable nature provided that the importer, by execution of a bond in such form and for such sum as may be specified by the Assistant Commissioner of Customs or Deputy Commissioner of Customs binds himself to re-export the said containers within six months from the date of their importation and to furnish documentary evidence thereof to the satisfaction of the said Assistant Commissioner and to pay the duty leviable thereon in the event of the importer's failure to do so.
The JN Customs has increased the amounts of bonds to be executed in view of variation in costs and the prevailing market conditions etc.
The revised rates with immediate effect are:
1. 20' Plain Container :Rs. 70,000/-
2. 40' Plain Container :Rs. 1,35,000/-
3. 20' Reefer Container :Rs. 2,50,000/-
4. 40' Reefer Container :Rs. 4,00,000/-
5. 20' Tank Container :Rs. 4,50,000/-
6. 40' Tank Container :Rs. 6,00,000/-
The Continuity Bonds executed henceforth with the revised amount shall, inter-alia, contain the following details:
(i) The concerned party should intimate to the Customs Container Cell, JNCH, the number and identification particulars of the containers to be moved outside the Customs area. The bond for such movement should be for specific individual container or a general bond covering a large number of containers.
(ii) The importation of containers without payment of duty on furnishing continuity bond will be subject to the condition that the container will be re-exported within six months from the date of their importation.
(iii) The concerned Steamer Agent will furnish the evidence of re-export within 30 days from the date of re-export of the container.
(iv) In any particular case the aforesaid period of six months may on sufficient cause being shown be extended in terms of Standing Order No. 12/2011 dated 22.02.2011 for such further period as may be deemed fit.
Is there any real control over the movement of imported containers and do they really get exported within six months?
JN Customs House Public Notice No. ., Dated: September 28,2015