Central board of indirect taxes and custom (CBIC) CBIC on Saturday allowed businesses to import and export goods without furnishing bonds to the customs authorities until June-end, aimed to ensuring no delay or disruption in EXIM trade due to COVID-19. In a circular, the CBIC said importers and exporters will have to furnish an undertaking to the Customs authorities in lieu of the bonds till June 30. The indirect tax body said it has received representation from traders to accept undertaking in lieu of bonds in certain cases of Customs clearance, in view of the difficulties being faced in the ongoing lockdown/constraints imposed in different regions of India. . Importers/exporters availing this facility shall ensure that the undertaking furnished . is duly replaced with a proper bond by July 15, 2021," the CBIC said in a circular. Last year too in the wake of COVID pandemic, the CBIC had allowed businesses to import and export goods without furnishing bonds to the customs authorities. (By Economics times of india) Admin Export trade mart
