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CBIC extends the relaxation for submission of bond to facilitate trade during the lockdown period till May 15, 2020

The CBIC vide Circular No. 17/2020 dated April 3, 2020 on “Measures to facilitate trade during the lockdown period- section 143AA of the Customs Act, 1962” wherein relaxation was given to accept an undertaking in lieu of a bond required during customs clearance upto 30.04.2020, subject to conditions as underlined in the circular. The said circular was issued in the context of lockdown announced by the Government for the period 25.03.2020 to 14.04.2020 due to COVID-19 pandemic. In the background of the recent announcement by the Government extending the lockdown till 03.05.2020 and taking into consideration that it might take sometime after the end of the lockdown for the situation to normalize, the Board has decided to further extend the facility of accepting undertaking in lieu of bond for the period till 15.05.2020. Consequently, the date for submission of proper bond in lieu of which the undertaking is being temporarily accepted is extended till 30.05.2020. This relaxation will be reviewed by the Board at the end of the lockdown period. Furthermore, in reference to pare 3.3 (ii) of the circular, the undertaking in lieu of bond is to be submitted by the registered email id of the IEC holder or their authorized Customs Broker. In addition to this requirement, but not in substitution, customs /ones may prescribe uploading of the undertaking on e-Sanchit Source: http://cbic.gov.in/resources//htdocs-cbec/customs/cs-circulars/cs-circulars-2020/Circular-No-21-2020.pdf

 

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