Relaxation of customs bond requirements allows undertakings in lieu of bonds, subject to conditions and later formal bond submission. Temporary relaxation permits importers/exporters to submit an undertaking in lieu of prescribed customs bonds to expedite clearance, available to specified categories and on case-by-case basis for others; the undertaking must mirror bond content, be signed by the IEC holder and submitted from the registered email, commit to later submission of the proper bond, will not replace mandated security, and customs must record all relaxations granted.
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 customs bond requirements allows undertakings in lieu of bonds, subject to conditions and later formal bond submission.
Temporary relaxation permits importers/exporters to submit an undertaking in lieu of prescribed customs bonds to expedite clearance, available to specified categories and on case-by-case basis for others; the undertaking must mirror bond content, be signed by the IEC holder and submitted from the registered email, commit to later submission of the proper bond, will not replace mandated security, and customs must record all relaxations granted.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
