Customs Act, 1962 — Chapter XVII: Miscellaneous
143. Power to allow import or export on execution of bonds in certain cases
- Notwithstanding anything in this Act, the Assistant/Deputy Commissioner may, in the case of import/export of goods by certain classes of importers/exporters as the Board specifies, allow clearance of goods on execution of a bond in the prescribed form and for the prescribed amount, and, where the exact duty leviable cannot be ascertained at that time, clearance on provisional assessment (with a bond for the difference between the duty provisionally assessed and the duty that may be finally assessed).
- The Board may specify the exporters or classes of exporters who may be permitted to import/export goods without payment of duty subject to execution of a bond for compliance with export obligations.
