Businessmen of the Central Board of Excise and Customs (CBIC) have been allowed to import and export without bonding with customs authorities.
In the Corona crisis, the central government has given big relief to the traders who do import and export. The government has allowed traders to import and export without bonding with customs authorities. Businessmen will get this facility till June 30. The Central Board of Excise and Customs (CBIC) has given this information by tweeting. This step has been taken to ensure that there is no delay or interruption in the EXIM Trade due to Corona.
With this decision of the Central Board of Excise and Customs (CBIC), traders will now be able to import goods from abroad and export goods abroad without depositing bonds till June 30. According to the circular issued by the CBIC, by June 30, importers and exporters will have to give only an undertaking to the Customs authorities in exchange for bonds.
CBIC restores the facility under Circular No. 17/2020 for trade by providing option to submit an undertaking in lieu of bond upto June 30, 2021 to ensure that there are no delays or disruption in EXIM trade due to #COVID19 pandemic by issuing Circular No.09/2021-Customs. pic.twitter.com/vQn8QhM3oH
— CBIC (@cbic_india) May 8, 2021
Businessmen made this demand
The CBIC said that in some cases of custom clearance, traders had requested to accept undertaking in lieu of bonds. This demand was made by the traders due to the lockdown imposed in many parts of the country. Let us tell that to prevent the second wave of Corona virus in the country, lockdowns have been imposed in many states and in the coming time many states have announced the lockdown. The imposition of lockdown was making it difficult for businessmen to do business.
This work will have to be done by 15 July
According to the CBIC circular, by June 30, traders have been allowed to import-export by depositing undertaking instead of bonds with the custom authorities. However, traders should complete this undertaking by 15 July 2021.
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