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of <h1>Customs Update: Eased Surety Norms for Importers Under Concessional Duty Rules 2017; Benefits for Clean Record Holders.</h1> The circular from the Office of the Commissioner of Customs at Jawaharlal Nehru Custom House addresses the clarification on the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. It discusses the requirement for importers to provide surety or security to avail duty exemptions. Concerns were raised about the financial burden this imposes on domestic industries, particularly electronic hardware manufacturers. In response, the Board has eased the norms for furnishing surety or security. Different categories of importers are specified with varying requirements for bank guarantees or cash securities, aiming to simplify business procedures and reduce compliance costs. Importers with a clean record over the past three years may receive exemptions from these requirements.
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