CBIC allows traders to import, export goods without furnishing bonds

The Central Board of Indirect Taxes and Customs (CBIC) has decided to make life easier for importers and exporters during the lockdown. It has extended the deadline, till May 15, for submitting undertakings instead of bonds to ensure fast movement of goods.

The CBIC was earlier made aware that due to lockdown the importers and exporters were unable to obtain stamp papers for furnishing goods required by the customs during clearance.  

The Board, however, said it will review the relaxation at the end of the lockdown period.

The importers and exporters who could avail this facility include government/public sector undertakings, manufacturer importer, Authorised Economic Operators and all importers availing Customs warehouse facility.