To close an IGCR bond once your imports are completed, you confirm that all goods under your IGCR Identification Number (IIN) have been used for the declared end use, file the required returns, and then request the bond release on the ICEGATE portal for the jurisdictional customs officer to approve. The bond, or bank guarantee, is the security that guaranteed your imported goods would be put to their approved purpose, so closing it both frees that financial security and formally ends the compliance obligation attached to those imports. Done properly, it leaves your record clean and your guarantee released.
Under the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017, the continuity bond you furnish is blocked to the extent of the differential duty on goods still to be accounted for. Until you close an IGCR bond that has served its purpose, that security stays committed, which ties up collateral or bank guarantee limits you could otherwise use. Closing the bond releases those amounts and confirms to customs that the end-use condition was met, so there is no residual liability hanging over the completed imports.
Before you begin, make sure every consignment imported under your IIN has actually been used for the approved end use. Any goods still unused, or unaccounted for, will hold up closure, because the bond cannot be released while the condition it secures is still open. This is the moment to reconcile your bills of entry against your actual consumption so there are no gaps.
You must have filed the returns that evidence consumption, Form IGCR-3 as the quarterly return, and Form IGCR-3A where an intra-quarterly return was used, so that your utilisation is on record. Under the current ICEGATE 2.0 position these returns are quarterly, and all pending returns must be cleared before closure can proceed. The returns are the proof customs relies on to accept that the goods were genuinely used as declared.
Log in to the ICEGATE portal and open your IGCR dashboard. In the bond and bank guarantee section, select the relevant bond and submit the request for release or bond credit. This initiates the digital closure request and routes it to your jurisdictional officer. Because the process is electronic, there is no separate paper application to lodge for a bond furnished on the current system.
The jurisdictional customs officer reviews your submitted data, returns, and supporting documents. Once satisfied that all conditions have been fulfilled, the officer approves the closure and the bond or bank guarantee is released in the system. If anything is incomplete, the request may be returned for correction, which is why the earlier reconciliation and return-filing steps matter.
Once the bond is released, keep copies of the bond release order, your bills of entry, and consumption reports for future audits. If you intend to keep importing, any unused bond value can be carried forward or a fresh continuity bond arranged, so closure of one bond does not disrupt ongoing operations. Clean post-closure records are your protection if the completed imports are ever reviewed.
Timely closure is a simple but important compliance step, and most delays come from unfiled returns or unreconciled consumption rather than the portal itself. Our team manages the full IGCR lifecycle, including preparing the returns and handling the bond release on ICEGATE, so your security is freed without hold-ups. See the IGCR clearance service or contact b[email protected] or +91 91673 79073.
The bond is closed through the IGCR module on the ICEGATE portal, and the scheme is administered by CBIC for importers registered with the DGFT.
Confirm all goods under your IIN have been used for the declared end use, file the required returns, then request the bond release in the bond section of your ICEGATE IGCR dashboard for the customs officer to approve.
Your quarterly Form IGCR-3, and Form IGCR-3A where an intra-quarterly return was used, must be filed and up to date, since they evidence the consumption customs relies on to release the bond.
The jurisdictional customs officer reviews your data, returns, and documents on ICEGATE and approves the release once satisfied that all conditions have been met.
If you continue importing, unused bond value can be carried forward or a fresh continuity bond arranged, so closing one bond does not interrupt future imports.
Prompt closure releases your financial security, ends the compliance obligation on the completed imports, and keeps your record clean for any future audit.
