Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Amendment to Ch IX of the Customs Act 1962 Insertion of Section 58A clarification regarding transitional provisions relating to Duty Free Shops/Ship stores/Airline Stores/Diplomatic Stores

Customs - 20/2016 - Dated:- 20-5-2016 - Circular No. 20/2016 - Customs F.No: 473/05/2015 - LC Govt. of India Ministry of Finance Dept. of Revenue Central Board of Excise & Customs New Delhi, dated 20th May, 2016 To, All Principal Chief Commissioners Customs, All Principal Chief Commissioners of Customs & Central Excise, All Chief Commissioners of Customs, All Chief Commissioners of Customs & Central Excise, All Directors General, All Principal Commissioners of Customs, All Principal .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

houses - (1) 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 therefrom without the permission of the proper officer. (2) The Board may, by notification in the Official Gazette, specify the class of goods which shall be deposited in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

advised to note the following: a. Licensees operating warehouses under erstwhile section 57 or 58 and storing goods meant for duty free shops/ship stores/diplomatic stores must apply for a license under section 58A, if they propose to continue to store such goods beyond the transitional period of three months. b. In order to ensure a smooth and orderly transition, existing warehouses engaged in supply of such goods are allowed to continue operations during the transitional period, under customs .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

lines may be strictly followed in processing of applications by existing licensees: (i) Application to be received from existing licensees within one month along with the certificate/undertakings mentioned in sub regulation (1) of regulation 3 of the Special Warehouse Licensing Regulations 2016; (ii) Commissioners should process the applications within 15 days of receipt. Since the due diligence of existing licenses was carried out while granting the license, there would be no need for verifying .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

(1) All warehoused goods shall be subject to the control of the proper officer. (2) No person shall enter a warehouse or remove any goods therefrom without the permission of the proper officer. (3) The proper officer may cause any warehouse to be locked with the lock of the Customs Department and no person shall remove or break such lock. (4) The proper officer shall have access to every part of a warehouse and power to examine the goods therein. 4.1 Further, the erstwhile section 64 stated: SEC .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

t loss or deterioration or damage to the goods; (e) show the goods for sale; or (f) - 4.2 It may be noted that a duty free shop cannot meet the ingredients of sub-section (2) and (3) of erstwhile section 62 of the Customs Act, or currently, the provisions of section 58 A. Similarly, the provisions contained in erstwhile section 64 or as it now stands, do not permit retail sales from a warehouse.From this it flows that a duty free shop located in a customs area should not be treated as a warehous .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

warehouses in the city and / or precinct of the airport qualify to be licensed as bonded warehouses as they are capable of being under the lock of customs. 5. It is also clarified that warehouses licensed under section 58 A can belong to an importer of ship stores / airline stores / diplomatic stores / duty free shop stores (exclusive use).There could also be warehouses under section 58 A which could be catering to several parties engaged in the business of ship stores / airline stores / diploma .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version