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Amendment to Ch IX of the Customs Act 1962 Bond required to be filed u/s 59 - To be executed a triple duty bond at the customs station of import with respect to the goods to be cleared for deposit in a warehouse

Amendment to Ch IX of the Customs Act, 1962 Bond required to be filed u/s 59 - To be executed a triple duty bond at the customs station of import with respect to the goods to be cleared for deposit in a warehouse - Customs - 18/2016 - Dated:- 14-5-2016 - Circular No.18/2016-Customs F.No: 484/03/2015 - LC (Vol II) Govt. of India Ministry of Finance Dept. of Revenue Central Board of Excise & Customs New Delhi, dated 14th May 2016 To, All Principal Chief Commissioners Customs, All Principal C .....

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ir, Pursuant to the enactment of the Finance Bill 2016, section 59 of the Customs Act, 1962 stands amended consequent to which, an importer is to execute a triple duty bond at the customs station of import with respect to the goods to be cleared for deposit in a warehouse. The bond will remain valid till the warehoused goods are duly cleared for home consumption or for export from the warehouse and will also cover the movement of goods from the customs station of import to the warehouse or from .....

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hould be brought to the notice of the Board. 4. Hindi version follows. (S.Kumar) Commissioner (Customs) Consignment Bond (Bond to be executed by the importer under sub-section (1) of Section 59 of the Customs Act, 1962 for the purpose of warehousing of goods to be imported by them.) [In terms of Circular No.18 / 2016-Customs] KNOW ALL MEN BY THESE PRESENTS THAT we M/s___________________having our office located at _______________________________________and holding Import-Export Code No._________ .....

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r successors, heirs, executors, administrators and legal representatives firmly by these presents. Sealed with our seal(s) this________ day of ___________20 ________. WHEREAS, we the importers have filed a bill of entry No. ______________dated for warehousing under section 46 of the Customs Act, (hereinafter referred to as the said Act) and the same has been assessed to duty under section 17 or section 18 of the said Act ( strike which is not applicable) in respect of goods mentioned below: Port .....

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thereunder in respect of such goods; (2) pay on or before the specified date in the notice of demand, all duties and interest payable under sub-section (2) of section 61; and (3) pay all penalties and fines incurred for contravention of the provisions of the Act or the rules or regulations made thereunder, in respect of such goods; (4) in the event of our failure to discharge our obligation, pay the full amount of duty chargeable on account of such goods together with their interest, fine and p .....

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ion 142 of the said Act without prejudice to any other mode of recovery. IN THE WITNESS WHEREOF, the importer has herein, set and subscribed his hands and seals the day, month and year first above written. SIGNED AND DELIVERED by or on behalf of the importer at (place) in the presence of: (Signature(s) of the importer/authorised signatory) Witness: Name &Signature Address Occupation 1. 2. Accepted by me this ____ day of 20_______ , for and on behalf of the President of India. (Assistant/Depu .....

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pression shall include our successors, heirs, executors, administrators and legal representatives) hereby jointly and severally bind ourselves to the President of India hereinafter referred to as the President (which expression shall include his successors and assigns) in the sum of Rs. ________________(please fill amount in words) to be paid to the President, for which payment well and truly to be made, we bind ourselves, our successors, heirs, executors, administrators and legal representative .....

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if we: (5) comply with all the provisions of the Act, the rules and regulations made thereunder in respect of such goods; (6) pay on or before the specified date in the notice of demand, all duties and interest payable under sub-section (2) of section 61 of the said Act; and (7) pay all penalties and fines incurred for contravention of the provisions of the said Act or the rules or regulations made thereunder, in respect of such goods; (8) pay in the event of our failure to discharge our obligat .....

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