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of <h1>Rule 5: Streamlined Process for Importers Seeking Duty Exemption with Electronic Bond Handling and Automatic Debit</h1> Rule 5 of the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 outlines the procedure for importers seeking exemption notifications. Importers must provide their Importer Identification Number (IIN), continuity bond number, and details when filing the Bill of Entry. The Deputy or Assistant Commissioner of Customs at the import station grants the exemption. Once cleared for home consumption, the bond is automatically debited in the customs system, and details are electronically available to the Jurisdictional Customs Officer. The rule was updated in 2022 to streamline the process and ensure electronic handling of bond details.
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