Measure to facilitate trade during the lockdown period- section 143AA of the Customs Act, 1962

Last updated: 04 April 2020

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This circular introduces temporary measures under Section 143AA of the Customs Act, 1962, to ease trade during the COVID-19 lockdown. Importers and exporters can submit an undertaking instead of a notarised bond for customs clearance until 30th April 2020. This facility is available to specific categories of traders, including Government undertakings, manufacturer importers, Authorised Economic Operators, and status holders. The undertaking must commit to submitting a proper bond by 7th May 2020, and specific conditions apply.

Circular No. 17/2020-Customs F. No.473/02/2020-LC Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes Customs) Room No.49, North Block, New Delhi Dated 03rdApril, 2020 To, All Principal Chief Commissioners/ Chief Commissioners of Customs/ Customs (Preventive), All Principal Chief Commissioners/ Chief Commissioners of Customs Central Tax, All Principal Commissioners/ Commissioners of Customs/ Customs (Preventive), All Principal

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FAQ :

The circular aims to facilitate trade during the lockdown period by allowing importers and exporters to submit an undertaking in lieu of a bond, simplifying customs clearance.

Importers and exporters can submit an undertaking, signed on their business letterhead, in place of a prescribed bond required under certain sections of the Customs Act, 1962.

Eligibility includes Government/Public Sector Undertakings, Manufacturer/Actual User importers, Authorised Economic Operators, Status holders, and importers availing warehouse facilities.

The proper bond must be submitted on or before 7th May 2020.

The relaxation is available up to 30th April 2020, subject to review by the Board at the end of the lockdown period (14th April 2020).

While specific categories are listed, other importers and exporters may be considered on a case-to-case basis by the jurisdictional Commissioner, with additional safeguards if necessary.

Notification No : Circular No. 17/2020-Customs
Source : http://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-circulars/cs-circulars-2020/Circular-No-17-2020.pdf

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