Upon receiving representations from the field formations about difficulty being faced by importers/ exporters and their authorized Customs Brokers, during the ongoing lock-down period, Indian govt has given some relaxations. Issues are being faced in obtaining notarized stamp papers for furnishing bonds required by Customs in certain situations during the assessment and clearance of goods.
–Easing out the concerns and in order to prevent delays, CBIC (Central Board of Indirect Taxes & Customs) has allowed traders to accept request for submission of an undertaking from the importer/exporter in lieu of a bond till 30 Apr’20.
–Importers /exporters availing this facility shall ensure that the undertaking furnished in lieu of bond is duly replaced with a proper bond before the stipulated period i.e. 07.05.2020.
–“While the above-referred lock-down is presently in force till 14.04.2020, considering that the importer/ exporter may find it difficult to comply with requirement of furnishing bond for some more time thereafter till the situation normalizes, the said relaxation shall be available up to 30.04.2020. This relaxation shall however be subject to review by the Board at the end of the lock-down period i.e. 14.04.2020.” states the circular.
–This relaxation will apply to the following categories of importers /exporters- government/public sector undertakings, manufacturer/actual user importer, authorized economic operators, status holder and all importers availing warehouse facility in terms of section 59 of the Customs Act, 1962
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