On 12 October 2026 (26 Ashwin 2083), the Inland Revenue Department issued a formal notice (Reference: IRD/CUS/2083-84/13669) regarding the acceptance procedures for seal bonds (bank guarantees) submitted in connection with customs transit, temporary admission, and duty-deferment schemes. The notice operationalizes the amendments to the Customs Act 2064 introduced via the Finance Act 2083, which revised the eligibility criteria for authorized banks, enhanced bond valuation methodologies, and introduced electronic submission through the Automated System for Customs Data (ASYCUDA World). Effective immediately, all seal bonds must be issued by commercial banks categorized as “A” or “B” by Nepal Rastra Bank and must conform to the standardized bond format prescribed in Annex-3 of the Customs Regulations 2065. The notice also mandates that bond amounts be calculated at 110% of the assessed duty and tax liability, inclusive of applicable interest, and remain valid for a minimum of 18 months from the date of customs clearance. Non-compliance will result in rejection of the bond and suspension of the associated customs facility.
Key Takeaways
- Mandatory Electronic Filing: Starting 1 Kartik 2083 (18 October 2026), all seal bond submissions must be uploaded digitally via the ASYCUDA World portal using the new “Bond Management Module.” Physical submissions at customs offices will no longer be accepted, except in cases of system outage certified by the Director General.
- Stricter Bank Eligibility: Only banks with a minimum capital adequacy ratio of 11% and a non-performing loan ratio below 3% as of the last audited financial statement are authorized to issue seal bonds. The IRD will publish a quarterly list of approved banks on its website.
- Real-Time Monitoring and Forfeiture: The new module enables real-time tracking of bond utilization and automatic triggers for forfeiture if the bonded goods are not re-exported or cleared within the prescribed period. Importers and carriers receive automated alerts 30 days prior to bond expiry.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement