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Government gives big relief to traders in Corona crisis, will be able to import-export by June 30 without filling bonds

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Businessmen of the Central Board of Excise and Customs (CBIC) have been allowed to import and export without bonding with customs authorities.

import Export

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.

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.

read this also- RBI’s big decision: Now 3 months more, the ban on this bank has increased, the bank will not be able to do any transaction.

read this also- Employers get this facility of 7 lakh rupees for free, know when and how they can avail

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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