This circular provides that in case of provisional Mega or Ultra-Mega Power Projects, importer/project developer can replace FDR with Bank Guarantee for availing the exemption from customs and excise duties as specified in notification Nos. 12/2012-Customs (S.No.507) and 12/2012-Central Excise (S.No. 337 and 338), both dated 17-03-2012.