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Special Warehouse Licensing Regulations 2016

Customs - 72/2016 - Dated:- 14-5-2016 - GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 72/2016 - Customs (N.T.) New Delhi, the 14th May, 2016 G.S.R 519 (E). - In exercise of the powers conferred by section 157 read with section 58A 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 shall be call .....

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f Customs, as the case may be, under section 58A, wherein dutiable goods may be deposited. (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 special warehouse. - (1) Upon an application being made to license a special warehouse, the Principal Commissioner of Customs or Commissioner of Customs, as the case may be, may issue a licence to an applicant wh .....

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otified by the Board under sub-section (2) of section 58A; (d) submits an undertaking to comply with such terms and conditions as may be specified by the Principal Commissioner of Customs or Commissioner of Customs, as the case may be; and (e) undertakes to pay for the services of supervision of the warehouse by officers of customs on recovery of costs. (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 .....

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site or building of the proposed special warehouse is not suitable for secured storage of dutiable goods; (ii) the site or building of the proposed special warehouse is not suitable 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 - Whe .....

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alent to the amount of duty involved on the dutiable goods proposed to be stored in the special warehouse at any point of time; (b) provide an undertaking binding himself to pay any duties, interest, fine and penalties payable in respect of warehoused goods under sub-section (3) of section 73A or under the Special 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 b .....

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Commissioner of Customs, as the case may be, may grant a licence in respect of the special warehouse subject to such conditions as deemed necessary. 6. Validity of licence. - Any licence granted under regulation 5 shall remain valid until and unless it is cancelled in terms of the provisions under section 58B or sub-regulation (2) of regulation 8. 7. Non-transferability of licence. - A licence granted under regulation 5 shall not be transferable. 8. Surrender of licence. - (1) A licensee may su .....

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