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A Critique-Liberalisation of warehousing provisions in respect of EOUs/EHTPs/STPs

Budget - By: - SKP IDT - Dated:- 5-3-2016 - EOUs are Private Bounded Warehouses licensed under section 58 of the Customs Act, 1962 and permitted under section 65 of the Customs Act, 1962 to carry out manufacturing activities within bounded premises. .....

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cipal Commissioner of Customs or Commissioner of Customs, it was causing great difficulty to the trade/units as they were required to approach the officer to get the extension through discretionary powers vested with him. Moreover, subjected goods, f .....

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onalizing the warehousing provisions in relation to an EOU/EHTP/STP, by substituting erstwhile section 61 with a new section extending the warehousing period. A brief comparative of relevant existing provisions vis-à-vis proposed amendments is .....

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pital goods Three (3) Years Till their consumption or clearance from the warehouse. It is also interesting to note that, though the warehousing provisions for EHTP/STP units are same as EOUs and governed by the Notification no. 52/2003-Customs-Tariff .....

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proposed new section, government has covered up this legal lacuna and EHTP/STP has been specifically included therein along with EOUs. Further, as per sub-clause (I) of clause (d) of condition specified under serial no. 3 of para 1 of the Notificati .....

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the satisfaction of the officer to have been installed or otherwise used within the unit for specified purposes with in the validity period of LoP. In our view, in case of validity of LoP is expired and it does not get extended further, a unit would .....

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