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TMI BlogMeasure to facilitate trade during the lockdown period - section 143AA of the customs Act, 1962X X X X Extracts X X X X X X X X Extracts X X X X ..... itate trade during the lockdown period - section 143AA of the customs Act, 1962 - reg Attention of all importers, exporters, Customs Brokers, AAICLAS, Airport Terminal Operators, Shipping Lines/Shipping Agents, PGAs, members of the Trade and all persons concerned is invited to the GIC Circular NO. 17/2020-CUs dated 03.04.2020 on the above-mentioned subject. 2. In light of the unprecedented situa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion normalizes, the said relaxation shall be available up to 15.05.2020. This relaxation shall however be subject to review by the Board at the end of the lockdown period i.e. 03.05.2020. 5. In the period up to 15.05.2020, Customs field formations may accept request for submission of an undertaking by the importer/exporter through e-Sanchit or email at [email protected] in lieu of a bond pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... horised Customs Broker. iii. The undertaking should include a commitment from the IEC holder to submit the proper bond in prescribed format on notarised stamp paper etc. on or before 20.05.2020. iv. The undertaking will not be treated as a substitute for security, wherever mandated. v. The security, where required, shall be furnished in the nature and manner as deemed fit by the poper office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the jurisdictional Commissioner to safeguard revenue and ensure compliance of the statutory provisions. 8. Importers /Exporters availing this facility shall ensure that the undertaking furnished in lieu of bond is duly replaced with a proper bond before the stipulated period i.e. 20.05.2020. Customs field formations shall maintain a record of all cases of relaxation allowed by them 9. In case ..... X X X X Extracts X X X X X X X X Extracts X X X X
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