We are first time manufacturer exporter and have obtained an import license / Advance Authorisation for duty free imports of inputs for the item to export. We want to register the license at port and there is a lot of confusion about Bank Guarantee amount calculation and Bond amount also. Will the BG amount be 15% of Duty or 15% of CIF value of goods imported? Like wise will the bond amount be 110% of duty saved or CIF value of goods imported. Due to divided opinion by CHAs whom we have approached for license registration we are completely confused on this. Kindly advise, need your urgent help.
Advance Authorisation / license registration BG and Bond amount calculation
Harshad Banker (Business) (40 Points)
16 February 2020