TMI BlogMeasures 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 ..... OTICE 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 Brokers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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 the i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 the IEC holder or their authori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nership 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 those listed in this Public Notice, as deeme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be brought to the notice of Additional Commissioner/Joint Commissioner of Customs, ACC (Import), Mumbai. (VINAYAK AZAAD) Commissioner of Customs (Import) Air Cargo Complex, Sahar Mumbai Customs Zone-III - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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