Measures to facilitate trade during lockdown period – Section 143AA of customs act 1962
( Circular no 17/2020 customs )
In light of unprecedented situations arising due to COVID 19, CBIC has been receiving a lot of queries regarding the furnishing of the bond required for clearing and assessment of goods.
CBIC has already relaxed norms of furnishing bonds by providing relaxation of 21 days from 25 March 2020. The importers or custom agents or any authorized person can submit an understanding in place of bond on their letterhead mentioning IEC number and submit it and get the assessment or clearance of goods.
Now, CBIC has again taken note of hardship and extend the furnishing of undertaking till 30th April 2020.
However such relaxation is not available to every person and circular has mentioned the category of person to whom such relaxations apply. Any other person not covered can apply for relaxation and board may on case to case basis provide relaxation.
However, do note that these undertakings should be replaced by bonds before 07 May 2020.
Advice from the writer:
Kindly ensure that undertaking contains the same language as that of the bond as that would help you while furnishing the bond later.
Source:
Circular no 17/2020 customs
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