TaxTMI 
TaxTMI 
Measures to facilitate trade during the lockdown period - Section 143AA of the Customs Act, 1962
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.... PUBLIC NOTICE NO. 56/2020 Sub.: Measures to facilitate trade during the lockdown period - Section 143AA of the Customs Act, 1962 - reg. Attention of the importers, Customs Brokers and all other stakeholders is invited to Board Circular No. 17/2020-Customs dated 03.04.2020 on the captioned subject. 2. Difficulty is being faced by importers/ exporters and their authorized Customs Broker....
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....of legitimate trade. 4. In this regard, relaxation of the requirement to submit bonds prescribed under section 18, section 59 and section 143, and under notifications issued in terms of section 25 of the Customs Act, 1962, is granted subject to compliance of conditions as listed below. 4.1. While the above-referred lockdown is presently in force till 14.042020, considering that th....
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....9 of the Customs Act, 1962. 4.3 Each such relaxation, where requested, should comply with the following conditions: i. The content of the undertaking should, to the extent possible, be same as the content of the prescribed bond. ii. The undertaking should be duly signed by the IEC holder concerned on their business letter head and submitted by the registered email ID of ....
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....us holders. For requests related to change of ownership after warehousing, the facility shall be considered only in cases where the prospective buyer is manufacturer/actual user importer or AEO or Status holder. 5. Such relaxation from submitting a bond would also be considered on case to case basis for any other importer who requests for the same, with such additional safeguards over and above....