MANU/CUCR/0043/2016

Ministry : Ministry of Finance

Department/Board : CBEC Customs

Circular No. : 42/2016-Customs

Date : 31.08.2016

Notification/ Circulars Referred : Circular no. 32/2013-Customs dated 16.08.2013 MANU/CUCR/0051/2013;Notification No.115-Customs (N.T.) dated 26.8.2016 MANU/CUSN/0123/2016

Citing Reference:
Circular no. 32/2013-Customs dated 16.08.2013 MANU/CUCR/0051/2013  Referred

Notification No.115-Customs (N.T.) dated 26.8.2016 MANU/CUSN/0123/2016  Referred

To,

All Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive),
All Principal Chief Commissioners/Chief Commissioners of Customs & Central Excise,
All Principal Commissioners/Commissioners of Customs/Customs (Preventive),
All Principal Commissioners/Commissioners of Customs & Central Excise

Sir/Madam,

Courier bond executed CCSPs -Regarding.

Kind attention is drawn to the Board's Circular no. 32/2013-Customs dated 16.08.2013, wherein, with regard to Regulation 5(1)(iii) of the Handling of Cargo in Customs Area Regulations, 2009 (hereinafter referred to as HCCAR), it was laid down that the amount of insurance to be provided by Customs Cargo Service Provider (CCSPs) should be equal to the average value of goods likely to be stored in the Customs area for a period of 30 days (based on projected capacity) and for an amount as Commissioner of Customs may specify having regard to the goods that are already insured by the importers or exporters.

2. It has been represented to the Board that for calculation of insurance amount and Bond amount under HCCAR, dwell time for clearance of imported goods and transit time for export goods should be taken in to account. It has been brought to the notice of the Board that CCSPs are being asked to give bond and insurance for an amount equal to the average value of goods likely to be stored, in 30 days, in the Customs area based on the projected capacity. It is further informed that the dwell time for imported goods is 10 days and transit time for export container is less than 24 hours.

3. The matter has been examined. Board is of the view t........