Easy Procedure for Bond Discharge of Jewellery Export against Supply by Nominated Agencies
[Circular No. 25/2018-Customs dated 8 August 2018]
Subject: Standard operating procedures for discharge of bonds executed by nominated agencies/ banks under Notification no. 57/2000-Customs dated 08.05.2000.
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.
(iii) The concerned officer i.e. Assistant/ Deputy Commissioner of Customs would issue an electronic acknowledgement immediately within 24 hours of receipt of the documents.
(iv) If the submitted documents are found to be incomplete or additional documents are required, a deficiency memo would be issued to the nominated agency/ banks for submission of missing/ additional documents within 5 days of receipt of the documents.
(v) The additional documents, other than the prescribed documents, would be requisitioned only with the prior approval of the Additional Commissioner of Customs concerned.
(vi) Nominated agencies/ banks would electronically provide the deficient/ additional documents so required within 7 days of the receipt of the deficiency memo.
(vii) Within 7 days of the receipt of the prescribed documents or the receipt of the deficient/ additional documents, as the case may be, the Assistant/ Deputy Commissioner of Customs would confirm the fact of export. This can also be done by viewing the relevant documents on the ICES application of Directorate General of Systems (invoices would be available thereon once e-Sanchit is rolled out on the export side).
(viii) Assistant/ Deputy Commissioner would discharge the bond of nominated agency/ banks within 7 days of confirmation of the export.
3. A concerted drive may be started for the discharge of the pending bonds as it is seen that a large number of bonds are pending release. The pendency of bonds needs to be cleared within 2 months. A report regarding the discharge of the bonds may be submitted by 05.10.2018 through e-mail at firstname.lastname@example.org
4. Difficulties, if any, may be brought to the notice of the Board.