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of <h1>Customs Temporarily Relaxes Bond Requirements u/s 143AA for Traders During COVID-19; Undertakings Allowed Until April 30, 2020.</h1> The Customs Department has issued a temporary relaxation under section 143AA of the Customs Act, 1962, to facilitate trade during the COVID-19 lockdown. Due to difficulties in obtaining notarized stamp papers, importers and exporters can submit an undertaking instead of a bond until April 30, 2020. This applies to government entities, manufacturers, authorized economic operators, status holders, and those using warehouse facilities. Undertakings must be replaced with proper bonds by May 7, 2020. The relaxation is subject to conditions, and additional safeguards may be applied by the jurisdictional Commissioner to ensure compliance and revenue protection.
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