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Circular No.01/2021-Customs dated 14.01.2021 issued by CBIC regarding Transhipment of Import & Export Cargo via Sri Lanka and Bangladesh-Waiver of bank guarantee.
The dealing with transhipment of import and export cargo and carriage of coastal cargo with the Reference to CBIC Circulars No.45/2005-Customs, dated 24.11.2005 and No.8/2019-Customs, dated 26.02.2019 waives the requirement of execution of bank guarantee for the purpose
of transhipment in respect of:
Carriers of containerized cargo, who are handling more than 1000 TEUs as
import containers in a financial year. This waiver would apply not only to shipping lines but also to ICDs/CFSs/other carriers and for carriage in all modes of transhipment, irrespective of their movement by road, coastal shipping or rail. Further, jurisdictional Commissioners of Customs in deserving cases have been empowered to exempt the requirement of furnishing Bank Guarantee in respect of carriers having annual transhipment volume below the limit of 1000 TEUs, but having
good track record.
Now Board has decided to extend the exemption from
requirement of furnishing of Bank Guarantee by the carriers for carriage of EXIM cargo for transhipment through foreign territories of Sri Lanka and Bangladesh. This relaxation would apply, if the carrier fulfils the requirement of waiver of Bank Guarantee in a like manner, as provided for by Circular No. 45/2005-Customs, dated 24.11.2005.
