Government of India
Ministry of Finance
Dept. of Revenue
Central Board of Excise & Customs
Circular No. 18/2016-Customs
New Delhi, Dated the 14th May 2016
To,
All Principal Chief Commissioners Customs,
All Principal Chief Commissioners of Customs & Central Excise,
All Chief Commissioners of Customs,
All Chief Commissioners of Customs & Central Excise,
All Directors General, Chief Departmental Representative,
All Principal Commissioners of Customs,
All Principal Commissioners of Customs & Central Excise,
All Commissioners of Customs,
All Commissioners of Customs & Central & Excise.
Sub:- Amendment to Ch IX of the Customs Act, 1962 – Bond required to
be filed under section 59 - reg.
Madam/Sir,
Pursuant to the enactment of the Finance Bill 2016, section 59 of the Customs
Act, 1962
stands amended consequent to which, an importer is to execute a triple duty bond
at the customs
station of import with respect to the goods to be cleared for deposit in a
warehouse. The bond
will remain valid till the warehoused goods are duly cleared for home
consumption or for export
from the warehouse and will also cover the movement of goods from the customs
station of
import to the warehouse or from one warehouse to another as well as for the due
accounting of
goods while stored in a warehouse.
- The Bonds to be executed by the importer under subsection (1) or sub-section
(2) of
section 59 of the Customs Act have been finalized in consultation with the
Ministry of Law &
Justice and are annexed. The format of bonds prescribed under this circular
supersedes the
existing bonds prescribed under Board’s Circular F.No: 473 / 82 / 78 – Cus VII
dated 20th April
1978.
- Difficulties, if any, should be brought to the notice of the Board.
- Hindi version follows.
(S. Kumar)
Commissioner (Customs)
F. No: 484/03/2015 – LC (Vol II)
Consignment Bond
(Bond to be executed by the importer under sub-section (1) of Section 59 of the
Customs Act,
1962 for the purpose of warehousing of goods to be imported by them.)
[In terms of Circular No.18 / 2016-Customs]
KNOW ALL MEN BY THESE PRESENTS THAT we M/s____
having our office located at______ and
holding Import–Export Code No.____ , hereinafter referred to
as the “importer”, (which expression shall include our successors, heirs,
executors,
administrators and legal representatives) hereby jointly and severally bind
ourselves to the
President of India hereinafter referred to as the “President” (which expression
shall include his
successors and assigns) in the sum of Rs.____ (please fill amount
in words) to be paid to the President, for which payment well and truly to be
made, we bind
ourselves, our successors, heirs, executors, administrators and legal
representatives firmly by
these presents.
Sealed with our seal(s) this___ day__of 20___
WHEREAS, we the importers have filed a bill of entry No.___ dated
for warehousing under section 46 of the Customs Act, (hereinafter referred to as
the said Act)
and the same has been assessed to duty under section 17 or section 18 of the
said Act ( strike
which is not applicable) in respect of goods mentioned below:
| Port
of
import |
Descript
ion of
goods |
Sl.
No.
of
invoice |
Descript
ion and
No. of
packages |
Value |
Warehouse Code
and
address
|
| (1) |
(2) |
(3) |
(4) |
(5) |
(6) |
AND WHEREAS Section 59(1) of the said Act requires the execution of a bond equal
to thrice
the amount of duty assessed on goods for which a bill of entry for warehousing
has been
presented under the said section 46.
NOW THE CONDITIONS of the above written bond is such that, if we:
(1) comply with all the provisions of the Act, the rules and regulations made
thereunder in
respect of such goods;
(2) pay on or before the specified date in the notice of demand, all duties and
interest
payable under sub-section (2) of section 61; and
(3) pay all penalties and fines incurred for contravention of the provisions of
the Act or the
rules or regulations made thereunder, in respect of such goods;
(4) in the event of our failure to discharge our obligation, pay the full amount
of duty
chargeable on account of such goods together with their interest, fine and
penalties
payable under section 72, in respect of such goods;
Then the above written bond shall be void and of no effect otherwise the same
shall remain in
full force and virtue.
IT IS HEREBY AGREED AND DECLARED that:
(1) the Bond shall continue in full force notwithstanding the transfer of the
goods to another
warehouse.
(2) the President through the Deputy/Assistant Commissioner or any other officer
may
recover any amount due under this Bond in the manner laid down under sub-section
(1)
of section 142 of the said Act without prejudice to any other mode of recovery.
IN THE WITNESS WHEREOF, the importer has herein, set and subscribed his hands
and seals
the day, month and year first above written.
SIGNED AND DELIVERED by or on behalf of the importer at (place) in the
presence of:
(Signature(s) of the importer/authorised signatory)
Witness:
Name &Signature Address Occupation
1.
2.
Accepted by me this ____ day of 20 , for and on behalf of the President of
India.
(Assistant/Deputy Commissioner)
Signature and date
Name:
General Bond
( To be executed by the importer under sub-section (2) of Section 59 of the
Customs Act, 1962
for the purpose of warehousing of goods to be imported by them)
[In terms of Circular No.18 / 2016-Customs]
KNOW ALL MEN BY THESE PRESENTS THAT we M/s____having our office located at
____and holding
Import –Export Code No.___ , hereinafter referred to as the
“importer”, (which expression shall include our successors, heirs, executors,
administrators and
legal representatives) hereby jointly and severally bind ourselves to the
President of India
hereinafter referred to as the “President” (which expression shall include his
successors and
assigns) in the sum of Rs. _____(please fill amount in words) to be
paid to the President, for which payment well and truly to be made, we bind
ourselves, our
successors, heirs, executors, administrators and legal representatives firmly by
these presents.
Sealed with our seal(s) this ____day of ____20 .
WHEREAS the Assistant/ Deputy Commissioner of Customs has given permission to
enter into
a General Bond for the purpose of sub-section (2) of Section 59 of the Customs
Act 1962,
(hereinafter referred to as the said Act) in respect of warehousing of goods to
be imported by us
during the period from to (both days inclusive).
NOW THE CONDITIONS of the above written bond is such that, if we:
- comply with all the provisions of the Act, the rules and regulations made
thereunder in respect of such goods;
- pay on or before the specified date in the notice of demand, all duties and
interest
payable under sub-section (2) of section 61 of the said Act; and
- pay all penalties and fines incurred for contravention of the provisions of
the said
Act or the rules or regulations made thereunder, in respect of such goods;
- pay in the event of our failure to discharge our obligation, the full amount
of duty
chargeable on account of such goods together with their interest, fine and
penalties
payable under section 72 of the said Act, in respect of such goods;
Then the above written bond shall be void and of no effect otherwise the same
shall remain in full
force and virtue.
IT IS HEREBY AGREED AND DECLARED that:
(3) the Bond shall continue in full force notwithstanding the transfer of goods
to
another warehouse.
(4) the President through the Deputy/Assistant Commissioner of Customs or any
other officer may recover any amount due under this Bond in the manner laid down
under
sub-section (1) of section 142 of the said Act without prejudice to any other
mode of
recovery.
IN THE WITNESS WHEREOF, the importer has herein, set and subscribed his hands
and seals
the day, month and year first above written.
SIGNED AND DELIVERED by or on behalf of the importer at (place) in the
presence of:
(Signature(s) of the importer/authorised signatory)
Witness:
Name and Signature Address Occupation
1.
2.
Accepted by me this ____ day of ____20 _____, for and on behalf of the President of
India.
(Assistant/Deputy Commissioner)
Signature and date
Name:
Schedule to the General Bond to be executed by the importer under sub-section
(2) of
Section 59 of the Customs Act, 1962 for the purpose of warehousing of goods to
be
imported by them.
| Bill
(Warehousing/Home
consumption//Export) No.
and date |
Duty
assessed
on the
goods |
Bond value
to be
debited or
credited
(Thrice the
amount of
duty) |
Debit |
Credit |
Balance
of bond
value |
Remarks |
Signature of the
officer along with
full name and
designation
|
| (1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |
|