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Introducing the “In Favour Of” filter in Case Laws.
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<h1>Customs Act Section 143AA: Temporary Bond Requirement Relaxation for Importers/Exporters During COVID-19 Until April 30, 2020.</h1> The circular addresses trade facilitation measures during the COVID-19 lockdown under section 143AA of the Customs Act, 1962. Due to difficulties in obtaining notarized stamp papers for bonds, the requirement to submit bonds under sections 18, 59, and 143 is temporarily relaxed until April 30, 2020. Importers and exporters can submit undertakings instead, with certain conditions, including a commitment to replace them with proper bonds by May 7, 2020. This applies to government entities, manufacturers, authorized economic operators, and status holders. Customs will maintain records of all relaxations granted, and difficulties should be reported to the Commissioner.