{"id":223,"date":"2020-04-06T07:37:52","date_gmt":"2020-04-06T06:37:52","guid":{"rendered":"http:\/\/cacmacsyouth.com\/?p=223"},"modified":"2020-04-06T07:37:54","modified_gmt":"2020-04-06T06:37:54","slug":"cbic-allows-traders-to-import-export-goods-without-furnishing-bonds","status":"publish","type":"post","link":"https:\/\/cacmacsyouth.com\/?p=223","title":{"rendered":"CBIC allows traders to import, export goods without furnishing bonds"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"442\" height=\"349\" src=\"https:\/\/cacmacsyouth.com\/wp-content\/uploads\/2020\/04\/import-export-code-license-500x500-1.png\" alt=\"\" class=\"wp-image-224\" srcset=\"https:\/\/cacmacsyouth.com\/wp-content\/uploads\/2020\/04\/import-export-code-license-500x500-1.png 442w, https:\/\/cacmacsyouth.com\/wp-content\/uploads\/2020\/04\/import-export-code-license-500x500-1-300x237.png 300w\" sizes=\"auto, (max-width: 442px) 100vw, 442px\" \/><\/figure>\n\n\n\n<p><strong>The Central Board of Indirect Taxes and Customs (CBIC) has allowed traders to submit an undertaking instead of furnishing bonds \u2013 required by customs for assessment and clearing of goods \u2013 in order to prevent delays or disruption in exports or imports caused by Covid 19 pandemic.<\/strong>\u00a0The decision was taken after field formations flagged the unavailability of notarised stamp papers for furnishing the bonds that was being faced by importers, exporters and their authorised custom brokers, during the lockdown period.<\/p>\n\n\n\n<p><strong>\u201cIn light of unprecedented situation caused due to Covid 19 pandemic, Board has decided to take certain measures for a temporary period, with a view to expedite customs clearance of goods and for maintaining balance between customs control and facilitation of legitimate trade,\u201d<\/strong>&nbsp;CBIC said in a notice Friday, giving relaxation of furnishing bonds till April 30.<\/p>\n\n\n\n<p><strong>\u201cIn the period up to April 30, customs field formations may accept requests for submission of an undertaking from the importer\/ exporter in lieu of a bond,\u201d it added.<\/strong>\u00a0The relaxation applies to central and state PSUs, manufacturers or actual users, importers, authorised economic operators, status holders and all importers availing warehousing facilities.<\/p>\n\n\n\n<p><a href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/finance\/cbic-allows-traders-to-import-export-goods-without-furnishing-bonds\/articleshow\/74970672.cms?from=mdr\">https:\/\/economictimes.indiatimes.com\/news\/economy\/finance\/cbic-allows-traders-to-import-export-goods-without-furnishing-bonds\/articleshow\/74970672.cms?from=mdr<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Indirect Taxes and Customs (CBIC) has allowed traders to submit an undertaking instead of furnishing bonds \u2013 required by customs for assessment and clearing of goods \u2013 in order to prevent delays or disruption in exports or imports caused by Covid 19 pandemic.\u00a0The decision was taken after field formations flagged the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-223","post","type-post","status-publish","format-standard","hentry","category-custom"],"_links":{"self":[{"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=\/wp\/v2\/posts\/223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=223"}],"version-history":[{"count":2,"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=\/wp\/v2\/posts\/223\/revisions"}],"predecessor-version":[{"id":268,"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=\/wp\/v2\/posts\/223\/revisions\/268"}],"wp:attachment":[{"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cacmacsyouth.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}