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CHANGES FOR CUSTOMS IN FINANCE BILL 2016

Budget - By: - Mr. M. GOVINDARAJAN - Dated:- 3-3-2016 - Omissions Clause 113(ii) of Finance Bill, 2016 proposes to omit Section 2(45) of Customs Act, 1961 ( Act for short) which defines the term warehousing station . Clause 115 of the Bill proposes to omit Section 9 of the Act which gives powers to Board to declare places to be warehousing station. Clause 116(ii) of the Bill proposes to omit Section 25(5) of the Act. Section 25 of the Act gives powers to the Government to grant exemption from du .....

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deals with the payment of rent and ware house charges. Clause 132 (a) of the Bill proposes to omit Section 72(1) (c). Section 72 deals with goods improperly removed from warehouses etc., Section 72(1) (c) provides that where any warehoused goods have been taken under section 64 as samples without payment of duty the proper officer may demand, and the owner of such goods shall forthwith pay, the full amount of duty chargeable on account of such goods together with all penalties, rent, interest a .....

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umption or are transferred to another warehouse or are exported or removed as otherwise provided in the Act. Section 73A(2) provides that the responsibilities of the person who has the custody of the warehoused goods shall be such as may be prescribed. Section 73A(3) provides that where any warehoused goods are removed in contravention of Section 71, the licensee shall be liable to pay duty, interest, fine and penalties without prejudice to any other action that may be taken against him under th .....

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r to any customs station, the proper officer may allow the goods and the conveyance to transit without payment of duty, subject to such conditions, as may be prescribed. Clause 121 of the bill proposes for substitution of new Section for Section 57. Section 57 deals with the appointing of public warehouses. The new Section 57 deals with licensing of public warehouses. The new Section 57 provides that the Principal Commissioner of Customs or Commissioner of Customs may, subject to such conditions .....

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bed, license a warehouse wherein dutiable goods imported by or on behalf of the licensee may be deposited. The new Section 58A (1) provides that the Principal Commissioner of Customs or Commissioner of Customs may, subject to such conditions as may be prescribed, license a special warehouse wherein dutiable goods may be deposited and such warehouse shall be caused to be locked by the proper officer and no person shall enter the warehouse or remove any goods there from without the permission of t .....

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ted under Section 57 or Section 58 of the Act. The proviso to this section provides that before any licence is cancelled, the licencee shall be given a reasonable opportunity of being heard. Section 58B (2) provides that the Principal Commissioner of Customs or Commissioner of Customs may, without prejudice to any other action that may be taken against the licensee and the goods under this Act or any other law for the time being in force, suspend operation of the warehouse during the pendency of .....

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within seven days from the date on which order of such cancellation is served on the licensee or within such extended period as the proper officer may allow, be removed from such warehouse to another warehouse or be cleared for home consumption or export. The proviso to this section provides that the provisions of this Chapter shall continue to apply to the goods already deposited in the warehouse till they are removed to another warehouse or cleared for home consumption or for export during suc .....

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he rules and regulations made there under in respect of such goods; to pay, on or before the date specified in the notice of demand, all duties and interest payable under Section 61(2); and to pay all penalties and fines incurred for the contravention of the provisions of this Act or rules or regulations in respect of such goods. Section 59(2) provides that the Assistant Commissioner of Customs or Deputy Commissioner of Customs may permit an importer to execute a general bond in such amount as t .....

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ction 59(5) provides that where the whole of the goods or any part thereof are transferred to another person, the transferee shall execute a bond in the manner specified in Sub section (1) or sub section (2) and furnish security as specified under sub-section(3). Clause 124 of the bill proposes for substitution of new section for Section 60. The new Section 60 deals with the permission for removal of goods for deposit in warehouse. Section 60(1) provides that when the provisions of Section 59 ha .....

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they are deposited or in any warehouse to which they may be removed- in the case of capital goods intended for use in any 100% EOU or EHTP unit or STP unit or any warehouse wherein manufacture or other operations have been permitted under Section 65, till their clearance from the warehouse; in the case of goods other than capital goods intended for use in any 100% EOU or EHTP or STP or any warehouse wherein manufacture or other operations have been permitted under Section 65, till their consumpt .....

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proviso to this Section provides that where such goods are likely to deteriorate, the period may be reduced by the Principal Commissioner of Customs or Commissioner of Customs to such short period as he may deem fit. Section 61(2) provides that where any warehoused goods specified in this section remain in a warehouse beyond a period 90 days from the date on which the proper officer has made an order under Section 60(1) interest shall be payable at such rate as may be fixed by the Central Gover .....

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f any warehoused goods; by notification in the Official Gazette, specify the class of goods in respect of which no interest shall be charged under this Section; by notification in the Official Gazette, specify the class of goods in respect of which the interest shall be chargeable from the date on which the proper officer has made an order under Section 60(1). The explanation to this section defines the terms EHTP , 100% EOU and STP. The term electronic hardware technology park (EHTP) unit is a .....

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ame- inspect the goods; deal with their containers in such manner as may be necessary to prevent loss or deterioration or damage to the goods; sort the goods; or show the goods for sale. Amendments The definition warehouse under Section 2(43) is substituted by a new definition. According to the new definition the term warehouse is a public warehouse licensed under Section 57 or a private ware house licensed under Section 58 or a special warehouse licensed under Section 58A. Clause 117 of the Bil .....

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onsumption. The new proviso provides that the Central Government may, by notification in the Official Gazette, permit certain class of importers to make deferred payment of the said duty or any charges in such manner as may be provided by rules. Clause 118 (b) of the Bill proposes to substitute new sub section for Section 47(2). The new Section 47(2) provides that where the importer fails to pay the import duty, either in full or in part, within two days (excluding holidays)- from the date on wh .....

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vision of Section 51 (which deals with clearance of goods for exportation) as sub-clause (1) and insert proviso to this sub section. The proviso to this section provides that the Central Government may, by notification in the Official Gazette, permit certain class of exporters to make deferred payment of said duty or any charges in such manner as may be provided by rules. Clause 119 (b) of the Bill proposes to insert sub section (2) after sub section (1) of Section 51. The Section 51 (2) provide .....

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