Undertaking in lieu of bonds permits expedited customs clearance by eligible traders under temporary bond relaxation. Temporary relaxation permits submission of an undertaking in lieu of prescribed bonds under sections 18, 59, 143 and related notifications to expedite customs clearance. Eligible categories include Government/PSUs, Manufacturer/Actual User importers, Authorised Economic Operators, Status holders, and warehousing users. Undertakings must replicate bond content, be signed on business letterhead and submitted from the registered IEC email, and must commit to furnishing the formal bond by the stipulated deadline. Undertakings do not substitute mandated securities; required security must be furnished as directed. Warehousing-related movements or ownership changes are restricted to manufacturer/actual user importers, AEOs, or Status holders. Customs must record relaxations and may grant case-by-case extensions with additional safeguards.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Undertaking in lieu of bonds permits expedited customs clearance by eligible traders under temporary bond relaxation.
Temporary relaxation permits submission of an undertaking in lieu of prescribed bonds under sections 18, 59, 143 and related notifications to expedite customs clearance. Eligible categories include Government/PSUs, Manufacturer/Actual User importers, Authorised Economic Operators, Status holders, and warehousing users. Undertakings must replicate bond content, be signed on business letterhead and submitted from the registered IEC email, and must commit to furnishing the formal bond by the stipulated deadline. Undertakings do not substitute mandated securities; required security must be furnished as directed. Warehousing-related movements or ownership changes are restricted to manufacturer/actual user importers, AEOs, or Status holders. Customs must record relaxations and may grant case-by-case extensions with additional safeguards.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
