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CBIC Allows Bond-Free Import-Export Till The End Of June

CBIC allows bond-free import-export till the end of June, traders will get relief.

The Central Board of Indirect Taxes and Customs (CBIC) has given a major relief to traders in the current era of the Corona crisis.

According to the new guidelines of the board, traders can import and export goods even before the end of June this year without filling bonds with the customs authorities.

Foreign trade is not affected by the Corona outbreak, so the CBIC has taken this step.

The CBIC said in a circular on Saturday that importers and exporters would have to submit only one affidavit to the customs authorities by June 30 this year in exchange for bonds.

Importers and exporters availing of this facility will have to submit the bond duly by 15 July 2021.

Last year, the CBIC also provided this facility in the wake of the Covid epidemic.

The board said that in view of the difficulties arising out of lockdowns or restrictions imposed in different parts of the country, many traders had requested that for some time the affidavit be accepted in lieu of bonds in some cases of customs.

According to the CBIC, traders have been temporarily exempted from depositing bonds to expedite the clearance of goods and to maintain balance in customs control and legitimate trade.

The market expected to go up sharply, these shares can give strong returns.

The Nifty closed at 14,860 this week, not far from the psychological barrier of 15,000. Put writing was also seen at the 14,800 level, which means that the Nifty will open above 14900 and can easily go above 15,000.

SGX was actually trading at 14968 after the market on Friday. However, it is mostly manipulative.

The Nifty’s slow pace of reaching 14,000 to 15,000 may be intended to benefit Byers and keep them short by 15,000. After this, the speed will be like a super express train up to 15,900.

A major fear of the West Bengal election worked out well. Byers’ short-trapped Nifty soared. The last ghost of rumors of Covid-19 and vaccination will surely stop once the Nifty reaches 15,100. Nobody talks about bond yields anymore.

The rest of the work will be done by Byers. With only 1.1 crore shares an open interest in the Nifty and a .92 put-call ratio we are very sure that any further decline in the market this time is very difficult.

Well, by March 2021, we usually saw an open interest of 1.55 to 16 million shares in the Nifty. It also means that there are a lot of shorts positions hidden in the Nifty open interest.

For example, 16 million is long and 55 million is shorts. In this way, an open interest of 11 million shares was done.

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