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of <h1>Customs Act Sections 18, 59, 143: Temporary Bond Substitution with Undertakings for Faster Clearance During COVID-19 Lockdown.</h1> The circular from the Principal Commissioner of Customs addresses measures to facilitate trade during the COVID-19 lockdown by allowing importers and exporters to submit undertakings instead of bonds under sections 18, 59, and 143 of the Customs Act, 1962. This temporary measure, effective until April 30, 2020, aims to expedite customs clearance while maintaining compliance. Eligible parties include government undertakings, manufacturers, authorized economic operators, status holders, and those using warehouse facilities. Undertakings must be replaced with proper bonds by May 7, 2020. The relaxation may extend to other importers/exporters on a case-by-case basis with additional safeguards.
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