Dated 6th April, 2020
The pandemic of Covid-19 in the country has compelled the Government to take certain steps for the easy movement of trade and one amongst it being relaxation extended in furnishing of Bond by the Importer/Exporter where ever required as per the Customs Act, 19621. Â Such relaxation has been given for a certain period of time i.e. upto 30.04.2020 and on fulfillment of certain conditions, with an objective of easy customs clearance.
A circular1 has been issued by the board in this regards and it has been stated in the circular that instead of submitting bond, the importer/Exporter may submit an undertaking to avail relaxation. The relaxation will however apply to the following category of Importer/Exporter–
Such relaxation will be considered for any other Importer/Exporter on case to case basis on the requests for the same, with such additional safeguards as deemed fit by the Jurisdictional Commissioner. Also Importer/Exporter using this facility shall ensure submission of proper bond before 07.05.2020.The relaxation is however subject to review by the board at the end of lockdown period i.e. 14.04.2020.
1Circular No.17/2020-Customs dated 03.04.2020
2Section 18, Section 59 and Section 143 of the Customs Act, 1962 and Notifications issued under Section 25 of the Customs Act, 1962.
BT Associates is a premier indirect tax consultant in kolkata, delivering high quality services to client in the area of indirect taxation.GST idea is a unit of BT Associates formed to share knowledge on stakeholders. We cover entire gamut from technical papers to recent development including IT under GST
BT Associates is a premier indirect tax consultant in kolkata, delivering high quality services to client in the area of indirect taxation.GST idea is a unit of BT Associates formed to share knowledge on stakeholders. We cover entire gamut from technical papers to recent development including IT under GST
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