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Private Warehouse Licensing Regulations 2016

Customs - 71/2016 - Dated:- 14-5-2016 - GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 71/2016- Customs (N.T.) New Delhi, the 14th May, 2016 G.S.R. 518 (E).- In exercise of the powers conferred by section 157 read with section 58 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations, namely:- 1. Short title and commencement.-(1) These regulations may be called as .....

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58 wherein dutiable goods imported by or on behalf of the licensee may be deposited; (d) section means section of the Act. (2) The words and expressions used herein and not defined in these regulations but defined in the Act shall have the same meanings respectively as assigned to them in the said Act. 3. Licensing of private warehouse.- (1) Upon an application being made to license a private warehouse, the Principal Commissioner of Customs or Commissioner of Customs, as the case may be, may iss .....

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be: Provided that the condition of furnishing a solvency certificate shall not be applicable to an undertaking of the Central Government or State Government or Union territory. (2) The Principal Commissioner of Customs or the Commissioner of Customs, as the case may be, shall not issue a licence to an applicant if, - (a) he has been declared an insolvent or bankrupt by a Court or Tribunal; (b) he has been convicted for an offence under any law for the time being in force; (c) he has been penalis .....

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e for general supervision by officers of customs; (iii) bankruptcy proceedings are pending against the applicant; or (iv) criminal proceedings are pending against the applicant and the offences involved are of such nature that he is not a fit person for grant of licence. 4. Conditions to be fulfilled by applicant. - Where, after inspection of the premises, evaluation of compliance to the conditions under regulation 3 and conducting such enquiries as may be necessary, the Principal Commissioner o .....

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ay any duties, interest, fine and penalties payable in respect of warehoused goods under sub-section (3) of section 73A or under the Warehouse (Custody and Handling of Goods) Regulations, 2016; (c) provide an undertaking indemnifying the Principal Commissioner of Customs or Commissioner of Customs, as the case may be, from any liability arising on account of loss suffered in respect of warehoused goods due to accident, damage, deterioration, destruction or any other unnatural cause during their .....

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