CBIC is working on process simplification and transparency over major aspects and we all have seen quite a few instances on making paper less and contact less processes with the use of artificial intelligence for quicker and simpler business trade. As a part of such best practice adoption process, CBIC has launched “Ekal Anubandh” vide Circular No. 04/2025 – Customs dated 17 February 2025. This project will encourage businesses to use a single All – India, Multi purpose electronic bond instead of submitting transaction wise Bonds at different ports for different trade incentive / benefit. This change shall have a very positive impact on the businesses which can save a lot of time and administration cost which is involved in generation, physical maintenance and closure of multiple Bonds at different ports and provisions of Customs.
some of the activities for which bonds are required currently in terms of various circulars are reproduced as under:
– Provisional Assessment;
– Export Promotion Schemes;
– Warehousing under Section 59;
– MOOWR in bonded warehouse under section 65;
– MOOWR in Special Warehouse under section 65;
Single All-India Multipurpose electronic Bond (SEB):
To overcome above issues and to provide end-to-end digital solution, in lieu of submission of separate bonds, now importer or exporter will have an option to submit a Single All-India Multipurpose electronic Bond (SEB) (format of which is made available at Annexure C of the Circular) with following features:
- An option to select and undertake obligations using a common bond format and can submit these electronically at chosen port via ICEGATE;
Submission of bank guarantee:
Author Bio
The advisory in regard to practical implementation of e-Bond and e-BG is made available on ICEGATE and can be referred on – https://www.icegate.gov.in/guidelines/e-bond-and-e-bg