Standard Operating Procedure for the Cancellation of Bond furnished for the Special Valuation Branch Investigation purpose

OFFICE OF THE COMMISSIONER OF CUSTOMS, NS V VALUATION CELL, 2ND FLOOR, A WING, JAWAHARLAL NEHRU CUSTOMS HOUSE, NHAVA SHEVA, TAL-URAN, DIST-RAIGAD, NAVI MUMBAI-400707.

File No. S/9-SVC-176/2014-15/JNCH

         Dated: 06.07.2020 

STANDING ORDER NO. 17/2020

   DIN No.- 20200778NX00003W2C12 

Sub: Standard Operating Procedure for the Cancellation of Bond furnished for the Special Valuation Branch Investigation purpose -reg. It is brought to the notice that a lot of difficulties have been faced in the Cancellation of Bond registered for the SVB process. As per Board Circular 05/2016 dated 09.02.2016, Bond is furnished by the importer as Annexure- D. The Bond is registered and accepted in the EDI System by AC/DC SVC and the same is debited on the clearance of consignments till finalization of the case. Once the SVB IR/O-in-O related to that reference is issued, the Bills of Entry are finalized in the EDI System by the Appraising Groups. After that the Importer approaches for the closure of the Bond. 2. ICES User Manual 2003 paragraph No 11.1.8 illustrates the process of closure of Bond in system. After fulfillment of requirement for the bond, the document needs to be closed for which the bond is being debited. The option facilitates closing the debited bond amount for the document. Once all the debit entries are closed the bond can be closed.
3. For the same purpose NOC for closure of all the documents (Electronically as well as Manually if filed) against the bond is asked from the Groups. Delay in providing response leads to delay in cancellation of bond.
4. To expedite this process, a Standard Operating Procedure is prescribed below for the speedy cancellation of SVB bond: i) On the receipt of the request of the Cancellation of SVB Bond, Special Valuation Cell will retrieve Bond Ledger details for the respective Bond Number from system. ii) On retrieval of the Bills of Entry details from the Bond ledger, Special Valuation Cell will identify the groups related to the Bills of Entry and accordingly seek NOC from the related Appraising Groups. Appraising Groups will check their records as to whether all the Bills of Entry have been closed under the subject Bond and take necessary action on any pending issues. If all the documents are closed then the same has to be intimated in the form of No Objection Certificate to the Special Valuation Cell within fifteen days of the receipt of the letter. If any formality is pending then the same has to be intimated to the SVC within fifteen days of the receipt of the letter. iii) On receipt of the NOC from all the appraising groups, AC/DC of Special Valuation Cell will ensure the cancellation of the Bond within five days.

-SD- (R.K.Mishra) Commissioner of Customs, NS-V, JNCH Copy To:-

1. The Chief Commissioner of Customs, Mumbai Zone-II,JNCH
2. Commissioner of Customs NS-I,NS-III,NS-V, Audit,JNCH
3. Additional/Joint Commissioner of Customs NS-I,NS-III,NS-V, Audit, JNCH .
4. DC/AC All Groups
5. DC/EDI

(Shantanu) Dy. Commissioner of Customs, SVC, NS-V, JNCH