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Regarding grant of exemption from furnishing Security/Bank guarantee by Central/State Government Undertakings for storing sensitive goods in private bonded warehouses
October, 04th 2012

Circular No. 26/2012-Customs

F. No. 473/16/2012-LC

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs


New Delhi, the 10th of September, 2012



All Chief Commissioners of Central Excise & Customs

All Chief Commissioners of Central Excise

All Chief Commissioners of Customs

All Chief Commissioners of Customs (Preventive)

The Director General of Revenue Intelligence/Central Excise Intelligence/Systems and Data Management/Export Promotion /Safeguards/Audit

The Chief Departmental Representative (CESTAT), Delhi




Subject: Grant of exemption from furnishing Security/Bank guarantee by Central/State Government Undertakings for storing sensitive goods in private bonded warehouses regarding.



Reference is invited to Circular No. 99/95-Customs dated September 20, 1995 (issued from file F. No. 473/61/94-LC) laying down the procedure for licensing of Private Bonded Warehouses under Section 58 of the Customs Act, 1962. Paragraph 3 (viii) of the Circular stipulates inter alia, that In respect of individual consignments to be warehoused, the licencees are to give a double duty bond as required under the law. In respect of sensitive goods we may take a cash deposit or bank guarantee equal to 25% of the duty liability (effective duty foregone) for each consignments. In this connection, a reference has been received from M/s. India Tourism Development Corporation Limited, a Government of India Undertaking, seeking exemption from furnishing Bank guarantee for storing sensitive goods in duty free shops operated by them.


2.         The matter has been examined in the Board. As a measure of relaxation to the Central/State Government Undertakings, as has been done in case of relaxation of requirement of Bank guarantee/security for Custodians of Sea Ports and Air Cargo Complexes/ICDs/CFSs (Circular No. 34/02-Customs dated June 26, 2002 and Circular No. 13/02-Customs dated February 22, 2002 refers), it is clarified that all Central and State Public Sector Undertakings shall be exempt from furnishing Bank guarantee or other form of security for storing sensitive goods in the duty free shops operated by them. The execution of a double duty bond and other requirements stipulated under Circular No. 99/95-Customs dated September 20, 1995 would, however, remain.


3.         Publicity to this Circular may be given by way of issuance of public notice and standing order.


4.         Difficulties, if any, faced in the implementation of this circular, may be immediately brought to the notice of the Board.


5.         Please acknowledge receipt.


6.         Hindi version follows.

Yours faithfully,


(M. Satish Kumar Reddy)

Director (ICD)

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