MANU/CUCR/0025/2018

Ministry : Ministry of Finance

Department/Board : CBEC Customs

Circular No. : 25/2018-Customs

Date : 08.08.2018

Notification/ Circulars Referred : Notification no. 57/2000-Customs dated 08.05.2000 MANU/CUST/0078/2000

Citing Reference:
Notification no. 57/2000-Customs dated 08.05.2000 MANU/CUST/0078/2000  Referred

To,

All Pr. Chief Commissioners/Chief Commissioners of Customs/Customs & Central Tax/Customs (Preventive)
All Pr. Commissioners/Commissioners of Customs/Customs & Central Tax/Customs (Preventive)

Standard operating procedures for discharge of bonds executed by nominated agencies/banks under Notification no. 57/2000-Customs dated 08.05.2000

Madam/Sir,

References have been received from the exporter associations that there is an inordinate delay in release of bonds executed by the nominated agencies/banks under Notification no. 57/2000-Customs dated 08.05.2000, while importing gold for the purpose of export of gold jewellery/articles. Accordingly, the matter was examined and the reports received from the field formations confirm that there is indeed a large pendency of subject bonds.

2. In the aforementioned background, in the interest of trade facilitation, it has been decided that following standard operating procedure will henceforth be followed for the expeditious discharge of the said bonds.

(i) Nominated agencies/banks would electronically provide the prescribed documents as proof of exports as provided under Para 4.68 of Handbook of Procedures of the Foreign Trade Policy, (2015-20) (FTP) within the time period prescribed in the FTP. These documents are (i) EP copy of shipping bill, (ii) Customs attested invoice, (iii) Bank certificate of realization/eBRC.

(ii) The prescribed documents would be submitted electronically by the nominated agencies/banks to the Assistant/Deputy Commissioner of Customs using dedicated e-mail. For this purpose suitable Trade Notice specifying the said e-mail address shall be issued by the Commissioners. The e-mail may also be displayed in the public domain on the website of the field formation concerned.<........