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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 ..... .: Measure to facilitate trade during the lockdown period - section 143AA of the Customs Act, 1962 - reg. Attention of all the Importers, Exporters, Customs Brokers, Steamer Agents, Custodians/ Customs Cargo Service Providers, Trade Associations / Chamber of Commerce, Members of the RAC/ PGC and the Public is invited to the Board's Circular No. 17/2020- Customs Dated 03.04.2020, on the above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ustoms clearance of goods and for maintaining balance between Customs control and facilitation of legitimate trade. 3. In this regard, Board has approved 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, subject to compliance of conditions as listed below in this Ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd their undertakings) b. Manufacturer/Actual User importer c. Authorised Economic Operators d. Status holder e. All importers availing warehouse facility in terms of section 59 of the Customs Act, 1962 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 presc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arehouse under section 67 of the Customs Act, 1962, shall be allowed only to manufacturer/actual user importer or AEO or Status holders. For requests related to change of ownership after warehousing, the facility shall be considered only in cases where the prospective buyer is either manufacturer/actual user importer or AEO or Status holder. 4. Such relaxation from submitting a bond may also be c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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