(1) The importer shall provide one-time prior information on the common portal, in Form IGCR-1 containing the following particulars, namely:-

i. the name and address of the importer and his job worker, if any;

ii. the goods produced or process undertaken at the manufacturing facility of the importer or his job worker, if any, or both;

iii. the nature and description of goods imported used in the manufacture of goods at the premises of the importer or the job worker, if any;

iv. particulars of the notification applicable on such import;

v. nature of output service rendered utilising the goods imported;

vi. particulars of premises intended to be used in case of unit transfer;

vii. details of the end use recipient in cases where goods imported are supplied for specified end use; and

viii. the intended ports of import.

(2) On acceptance of the information, an Import of Goods at Concessional Rate of Duty(IGCR) Identification Number (IIN) shall be generated against such information :

Provided that such information may be updated on the common portal in case of a change in the details furnished in Form IGCR-1.

(3) The importer who intends to avail the benefit of a notification shall submit a continuity bond with such surety or security as deemed appropriate by the Deputy Commissioner of Customs or Assistant Commissioner of Customs having jurisdiction over the premises where the goods imported shall be put to use for manufacture of goods or for rendering output service or being put to use for a specified end use, with an undertaking to pay-

a. in case of a notification that provides a duty exemption, the amount equal to the difference between the duty leviable on inputs but for the exemption and that already paid, if any, at the time of import, along with interest, at the rate fixed by notification issued under section 28AA, for the period starting from the date of import of the goods on which the exemption was availed and ending with the date of actual payment of the entire amount of the difference of duty that he is liable to pay ;

b. in all cases where the notification is other than one that provides an exemption benefit, the amount equal to the assessable value of the goods being imported.