Electronic bonds to start in Maharashtra from today

In Brief

• The hassle of paper bonds will end now

• The start of electronic bonds in Maharashtra from today

• An important decision by Minister Chandrashekhar Bawankule

(Electric Bond) The electronic bond (E-Bond) system is starting in Maharashtra from today. This will end the hassle of paper bonds and provide significant relief to importers and exporters. Revenue Minister Chandrashekhar Bawankule has made an important decision in this regard. Immediate verification can be done by officials, and incidents of fraud will be curbed. Henceforth, it will be possible to make changes electronically in the bond and increase the amount. Transactions will become more secure and transparent due to the e-signatures of customs officers and customers.

Technical support for this initiative has been provided by National E-Governance Services Limited (NeSL) and National Informatics Centre (NIC). The customs transactions in the import-export process will now be completely digital. All processes will be simplified using e-stamping, e-signature, online payment, real-time verification, and digital records.

The government has emphasized making transactions faster, safer, and more transparent through this initiative. Since legal stamp duty can be paid directly online, a significant amount of time and cost will be saved. This system is considered a major relief for the industrial sector. The complexity of paper documents will be reduced, transaction costs will decrease, and the customs process will become more efficient. It is expected that this decision by the Maharashtra government will significantly accelerate the operations of importers and exporters.