Bank guarantee for Transshipment of cargo through airports
Board recollects that:-
++ as per existing provisions of transshipment of cargo from one Customs location to another location, the Trans shipper has to execute a bond with bank guarantee in order to safeguard Customs duty in the transshipment operation.
++ Circular No. 45/2005-Customs, dated 24.11.2005 waives the requirement of the of bank guarantee to be taken in case of transshipment of cargo from the gateway port to feeder ports/ICDs/CFSs and vice versa, for all carriers of containerized cargo, who are handling more than 1000 TEUs as import containers in a financial year.
++ The waiver is applicable not only to shipping lines but also to ICDs/CFSs/ other carriers and for carriage in all modes of transshipment, irrespective of their movement by road, coastal shipping or rail.
++Further, jurisdictional Commissioners of Customs may in deserving cases give waiver of bank guarantee requirement for carriage of goods on transshipment.
Waiver of bank guarantee in transshipment of air cargo between two Indian airports and transshipment of cargo from/to airport from other Customs location
Board has now decided that airlines/ other carriers having annual transshipment volume above 2500 MT to/from any airport, would be exempt from Bank Guarantee for carriage of goods on transshipment. Further, the jurisdictional Commissioners of Customs in deserving cases may also consider giving waiver of bank guarantee.
CBEC CIRCULAR NO. 24/2006-Cus., Dated: August 25, 2006