Bond And Ct-1 By The Merchant Exporter Ingredients: Bupivacaine

Merchant exporter shall furnish a bond in Form B-1 so that goods can be cleared by supplier manufacturer (from whom the goods are being procured by him for export) without payment of duty and obtain certificate in Form CT-1 from excise office.

Though any exporter can furnish bond, the merchant-exporters are necessarily required to furnish bond in the B-1 Form specified in Notification No. 42/2001-Central Excise (N.T.), with such security or surety as may be specified by the concerned bond accepting authority. The bond shall be in a sum equal at least to the duty chargeable on the goods for the due arrival of export goods at the place of export and their export therefrom under Customs or as the case may be postal supervision. The officer, who will accept the bond, will also be responsible for discharging that bond upon furnishing proof of export by the exporter.

The bond shall not be discharged unless the goods are duly exported, to the satisfaction of the Deputy/Assistant Commissioner of Central Excise or Maritime Commissioner or such other officer as may be authorized by the Board on this behalf within the time allowed for such export or are otherwise accounted for to the satisfaction of such officer, or until the full duty due upon any deficiency of goods, not accounted so, and interest, if any, has been paid.

Export Excise Procedures

01.

Physical Exports:

Manufacturers and merchant exporters are entitled to exemption from payment of Central excise duty or claim rebate of duty paid at the time of exports from the factory.

The Cenvat can be availed by the exporters on the inputs used in the manufacture of export goods even if they are operating under the Duty Exemption Scheme i.e. Advance Authorization for duty free imports.

In case of Manufacturer-Exporter, the export goods can be cleared from the factory without payment of excise duty by furnishing a Letter of Undertaking. The exporter has to export the goods within six months and submit the proof of exports to the concerned excise authorities.

In the case of merchant exporter, the goods can be procured from the manufacturer without payment of duty by furnishing the Bond and CT-1. The goods can also be exported by the merchant exporter on payment of excise duty at the time of clearance of and claim refund.

02.

Intermediate Supplies:

The manufacturer exporter can procure the goods indigenously required for the manufacture of his products against Invalidation Letter/ARO issued by Licensing Authority. No Excise Payable on such supplies.

03.

Supply against invalidation Letter/ ARO :

If you are manufacturer, against Invalidation Letter you are eligible for advance authorization for import of raw materials without payment of any Customs Duty.

04.

Deemed Exports:

There are several categories of supplies under the Deemed exports, especially projects to be set up in power, refineries, fertilizers and petroleum/gas etc. They are entitled to exemption or refund of terminal excise duty, duty drawback or issue of advance authorization as is provided in the Policy. The refund of terminal excise duty can be claimed by the supplier or the recipient from the licensing authorities on submission of necessary documents.

05.

Merchant Exporter:

The Merchant Exporter can procure the goods without payment of duty by furnishing the Bond and discharge the liability by furnishing the export documents to the Maritime Commissioner. CT-1 is required to be obtained after furnishing B-1 Bond by the Merchant Exporter.