CBEC clarifies on Bank Gaurantee (BG) exemption under Advance License/Export Promotion Capital Goods (EPCG) Schemes; 100% BG in event of license holder being penalized in last 3 financial years​ ​will​ ​not​ ​apply​ ​where jurisdictional Commissioner is satisfied about absence of​ ​risk to​ ​revenue

Customs Circular No. 15/2014-Customs dated December 18, 2014
To download click here