India: Govt Facilitates Trade During Lock-down by Allowing Submission of Undertakings till 15 May
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Upon receiving representations from the field formations about difficulty being faced by importers/ exporters and their authorized Customs Brokers, during the ongoing lock-down period, Indian govt has given some relaxations which has been extended in context of recent announcement by the Government extending the lockdown till 3rd May'20.
-- Thus, the board has decided to further extend the facility of accepting undertaking in lieu of bond for the period till 15th May'20.
--Easing out the concerns and in order to prevent delays, CBIC (Central Board of Indirect Taxes & Customs) has allowed traders to accept request for submission of an undertaking from the importer/exporter in lieu of a bond of which undertaking is been extended till 30th May'20.This relaxation will be reviewed by the Board at the end of Lockdown period.
--This relaxation will apply to the following categories of importers /exporters- government/public sector undertakings, manufacturer/actual user importer, authorized economic operators, status holder and all importers availing warehouse facility in terms of section 143AA of the Customs Act, 1962
--However in last circular, undertaking in lieu of a bond required during custom clearance was upto 30 Apr'20 which was issued in context of lockdown announced by the Govt for period of 25 Mar;20 to 14th Apr'20 due to COVID-19 pandemic