-The Central Board of Indirect Taxes and Customs (CBIC), on
Monday, issued a review of Circular No.
17/2020 dated April 03, 2020, on measures to facilitate trade during the
lockdown period under Section 143AA of the Customs Act, 1962. Earlier, in
furtherance of the pandemic, the board has relaxed 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. This
relaxation is on a temporary basis and it will continue on April 30, 2020.
-The board has now further decided to extend the facility of
accepting the undertaking in lieu of bond for the period till May 30, 2020, and
as a result, the date of submission of the bond is also temporarily extended
till June 15, 2020.
-“In reference to MHA order 40-3/2020-DM-I(A) dated
01.05.2020, wherein the lockdown was further extended for two weeks with effect
from 4 May 2020, and taking into consideration that it might take some time
after the end of the lockdown for the situation to normalize and the activities to carry on, the Board has
decided to further extend the facility of accepting undertaking in lieu of bond
for the period till 30.05.2020. Consequently, the date for submission of a proper
bond in lieu of which the undertaking is being temporarily accepted is extended
till 15.06.2020.
-The circular Clarifies,
- This relaxation will be reviewed by the Board at the end of
the Lockdown period
- The Condition underlined in Circular No. 17/2020 dated 03.04.2020 stands as they are.
- Suitable Trade Notice/Standing Order may be issued to guide the trade and Industry.Difficulty,if any,faced in implementation of this circular
may be bought to the notice of the board immediately.
-The Central Board of Indirect Taxes and Customs (CBIC), on
Monday, issued a review of Circular No.
17/2020 dated April 03, 2020, on measures to facilitate trade during the
lockdown period under Section 143AA of the Customs Act, 1962. Earlier, in
furtherance of the pandemic, the board has relaxed 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. This
relaxation is on a temporary basis and it will continue on April 30, 2020.
-The board has now further decided to extend the facility of
accepting the undertaking in lieu of bond for the period till May 30, 2020, and
as a result, the date of submission of the bond is also temporarily extended
till June 15, 2020.
-“In reference to MHA order 40-3/2020-DM-I(A) dated
01.05.2020, wherein the lockdown was further extended for two weeks with effect
from 4 May 2020, and taking into consideration that it might take some time
after the end of the lockdown for the situation to normalize and the activities to carry on, the Board has
decided to further extend the facility of accepting undertaking in lieu of bond
for the period till 30.05.2020. Consequently, the date for submission of a proper
bond in lieu of which the undertaking is being temporarily accepted is extended
till 15.06.2020.
-The circular Clarifies,
- This relaxation will be reviewed by the Board at the end of the Lockdown period
- The Condition underlined in Circular No. 17/2020 dated 03.04.2020 stands as they are.
- Suitable Trade Notice/Standing Order may be issued to guide the trade and Industry.Difficulty,if any,faced in implementation of this circular may be bought to the notice of the board immediately.
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