Mumbai: In line with the central government’s directives, the Maharashtra government’s Revenue Department has decided to implement the E-Bond (Stamp) system starting today, as announced by Revenue Minister Chandrashekhar Bavankule while speaking to the media. “Maharashtra has embraced the E-Bond era from today. This system was developed in just 20 days, and it will save around 50,000 paper documents annually,” Bavankule stated.

At the launch event held at Mantralaya, Bavankule said, “The paper bond system comes to an end today. Importers and exporters no longer need to visit banks or courts for stamp paper. This system is completely secure and free from cyber threats.” He also announced decisions to reduce fees for services like land release from encumbrance and land partition surveys. With immediate verification by customs officials, fraud will be curbed, and changes or increases in bond amounts can now be made electronically in existing bonds. The e-signatures of customs officials and customers will make transactions even more secure and transparent.

Developed with technical support from the National e-Governance Services Limited (NeSL) and the National Informatics Centre (NIC) under the Maharashtra government’s Registration and Stamps Department, this Customs E-Bond system eliminates the need for multiple paper bonds for various transactions. Now, a single electronic bond can handle all processes. These bonds will be useful for provisional assessments, export promotion schemes, warehousing, and manufacturing in bonded warehouses.

How Will the E-Bond Process Work?
The system is entirely digital. Importers or exporters will create the E-Bond via the ICEGATE portal. E-stamping and e-signing will be done through NeSL, followed by online verification by customs officials. All fees, including stamp duty, will be paid online. Under the Maharashtra Stamp Act, the fixed fee of ₹500 can now be deposited online, eliminating the need for paper stamps.

Key Benefits of E-Bond

• Aadhaar-Based E-Signing: Transactions will become more secure and transparent with e-signatures from importers/exporters and customs officials.
• Eco-Friendly: Ending paper documents will promote ‘Green Governance’ and conserve paper.
• Real-Time Verification: Immediate checks by customs officials will prevent fraud.
• Easy Modifications: Necessary changes or amount increases in existing bonds can be made electronically, saving time and costs.
• Business Facilitation: Customs processes will accelerate, boosting initiatives like Digital India.

This system will provide significant relief to importers and exporters, while accelerating the government’s digital efforts. In the coming days, the system is expected to expand to other sectors as well.