The Central Board of Excise and Customs (CBEC), under the Finance Ministry, had received representation from the trade as well as its own officials regarding problems faced in sealing of export cargo "under bond".
It was pointed out that bulk cargo like iron-ore, coal, alumina concentrate, or heavy machinery are difficult to seal in packages or container and hence a suggestion was made on the need to prescribe procedure for export of such goods.
"Provided that where the nature of goods is such that the goods cannot be sealed in a package or a container such as coal or ore, etc, exemption from sealing of package or container may be granted...Subject to safeguard...," the clarification said.
CBEC said no remission of duty shall be allowed for loss of goods within transit and permission should be given on case to case basis for a specified period not exceeding one year at a time.
The Principal Chief Commissioner or Chief Commissioner of Central Excise has been empowered to grant exemption from self-sealing of bulk cargo for export on case to case basis.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
