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CBIC Allows import Exports without Bonds

The Central Board of Indirect Taxes and Customs has (CBIC) restored the options of submitting an undertaking instead of bond by traders up to June 30, so as to prevent dispruptinons for trade in import and export due to covid-19. The board said in a notification issued On Saturday that the relief would be given on the condition that the importer and Exporter furnishes the bond lastest by July 15, which will replace the undertaking.

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