Bond
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2011
A tyre manufacturing company will be exporting tyres through a merchant exporter. In that case, do the manufacturing company need to give any bond to the excise authorities for exemption of excise duty liability? What is the procedure and for what value do the bond need to be provided? Any collateral security needed?
U S Sharma
(Expert)
14 September 2011
Merchant exporter has to execute B-1 bond, with maritime comm, and get CT-1 in favor of manufaturer,
manufacturer will clear the goods without payment of duty under export invoice and ARE-1, against CT-1 produced by merchant exporter.
manufacturer will clear the goods without payment of duty under export invoice and ARE-1, against CT-1 produced by merchant exporter.
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