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

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..... c Notice No. 12/2020 Sub.: Measure to facilitate trade during the lockdown period - section 143AA of the Customs Act, 1962 -reg Attention of the Exporters Importers , Custom Brokers and all other stakeholders is invited to Circular No. 17/2020-Customs, F. No. 473/02/2020- LC, dated 03.04.2020, issued by the JC(Customs), CBIC , New Delhi on the above mentioned subject. 1. Board has rece .....

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..... 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:- 3.1 While the above-referre .....

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..... turer/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. 3.3 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 un .....

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..... on 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 shall also be considered on ca .....

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..... ht to the notice of Additional Commissioner, Air Cargo Exports New Customs House, New Delhi. This issues with the approval of the Commissioner, Air Cargo Export, NCH, New Delhi. (K R Madhar) Additional Commissioner, Air Cargo Export - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagemen .....

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