CBIC Issues measures to facilitate Trade during the lockdown period.

Central Board of Indirect Taxes & Customs in its Circular dated 3rd April 2020 has taken measures for a temporary period under section 143AA of the Customs Act, 1962 to expedite Customs clearance of goods and to maintain balance between Customs control and facilitation of legitimate trade.

In furtherance of this pandemic the board has approved relaxation of the requirement to submit till April 30, 2020. The Customs field formations may accept request for submission of an undertaking from the importer/exporter in lieu of a bond prescribed under the above-mentioned provisions. This relaxation will apply to the following categories of the importers/exporters:

a. Government/Public Sector Undertakings (Central/State/UT Govts. or Administrations and their undertakings)

b. Manufacturer/Actual User importer

c. Authorized Economic Operators d. Status holder e. All importers availing warehouse facility in terms of section 59 of the Customs Act, 1962

The board also directed the importers or exporters availing this facility to ensure that the undertaking furnished in lieu of bond is duly replaced with a proper bond before May 7, 2020. Customs field formations shall maintain a record of all cases of relaxation allowed by them.

Click here to read the Notification.