Effective monitoring of Warehoused goods to safeguard revenue- reg. - Customs - PUBLIC NOTICE No. 28/2023

..... ing followed by certain importers in above context are detrimental to the government revenue and not in consonance with existing provisions of law. Some of the same are as under:- (i) That there are number of Warehousing bonds submitted by the Importers for which the warehousing period of the imported goods had already expired, but the licencees have neither come forward to cancel their bond nor sought an extension of the warehousing period of uncleared warehoused goods; (ii) That, as per the prevalent practice, the subsequent bonders (buyer importers), who purchased goods on the bond-to-bond transfer basis do not provide Bank Guarantee, wherever required at the time of execution of bond for the bond to bond sale of warehoused goods during .....

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Effective monitoring of Warehoused goods to safeguard revenue- reg. - Customs

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..... ctice being followed in the Commissionerate to be in line with the provisions of the Act and the procedure laid by the Board, the following guidelines are being issued: i. At the time of initial warehousing or bond-to-bond transfer, the shelf life of the goods is mandatory to be declared as Annexure to the Bond submitted by the importer: ii. At the time of initial warehousing or bond-to-bond transfer, the shelf life of the goods to be warehoused is less than 1 year the request of warehousing period should be sufficiently lesser than the balance shelf life (at least two months prior to the expiry of warehoused goods), otherwise Bond accepting authority will restrict the said bonding period depending on the shelf life of the goods being wareh .....

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Effective monitoring of Warehoused goods to safeguard revenue- reg. - Customs

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..... ex-bond Bill of Entry (if filed wrongly) without any further delay before expiry of the bond. vi. After clearance of all warehoused goods or after the lapse of the bonding period, the concerned importer will have to submit all the details of clearance along with the supporting documents to the Bond Section for the purpose Of closure of the bond. 4. This public notice will come into effect immediately after issuance. 5. All trade associations/members of the Customs Brokers Association are requested to take note and publicize the contents of this Public Notice among their members/constituents. 6. For departmental officers, this may be treated as Standing Order. 7. Difficulty, if any, may be brought to the notice of the Additional Commissioner .....

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Effective monitoring of Warehoused goods to safeguard revenue- reg. - Customs

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