Relaxation of bond requirements allows undertakings in lieu of bonds to expedite customs clearance during lockdown. Temporary relaxation under Section 143AA allows acceptance of an undertaking in lieu of prescribed customs bonds until 30.04.2020, requiring the undertaking to replicate bond content, be signed by the IEC holder and sent from the registered IEC email, and to commit to furnishing the proper notarized bond by 07.05.2020; mandated security is not waived and must be provided as directed. Eligibility is limited to government/PSUs, manufacturers/actual users, Authorized Economic Operators, status holders and warehouse users, with case-by-case consideration for others and recordkeeping by the bond section to ensure replacement by the deadline.
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.
Relaxation of bond requirements allows undertakings in lieu of bonds to expedite customs clearance during lockdown.
Temporary relaxation under Section 143AA allows acceptance of an undertaking in lieu of prescribed customs bonds until 30.04.2020, requiring the undertaking to replicate bond content, be signed by the IEC holder and sent from the registered IEC email, and to commit to furnishing the proper notarized bond by 07.05.2020; mandated security is not waived and must be provided as directed. Eligibility is limited to government/PSUs, manufacturers/actual users, Authorized Economic Operators, status holders and warehouse users, with case-by-case consideration for others and recordkeeping by the bond section to ensure replacement by the deadline.
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