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LICENSING OF WAREHOUSES

Customs - Import - Export - SEZ - By: - Mr. M. GOVINDARAJAN - Dated:- 3-6-2016 - The CBEC made the following regulations in respect of giving - Public Warehouse Licensing Regulations, 2016 - Vide Notification No .70/2016-Cus (NT), dated 14.05.2016; Private Warehouse Licensing Regulations, 2016 -Vide Notification No. 71/2016-Cus (NT), dated 14.05.2016; Special Warehouse Licensing Regulations, 2016 - Vide Notification No. 72/2016-Cus (NT), dated 14.05.2016. All these three regulations came into ef .....

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s licensed as such by the Principal Commissioner of Customs or Commissioner of Customs, as the case may be, under Section 58 wherein dutiable goods imported by or on behalf of the licencee may be deposited. Special Warehouse The term Special Warehouse is defined under Regulation 2(1)(d) of Special Warehouse Licensing Regulations, 2016 as a site or building that is licensed as such by the Principal Commissioner of Customs or Commissioner of Customs, as the case may be, under Section 58A, wherein .....

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incipal Commissioner of Customs or Commissioner of Customs, as the case may be; The applicant is to furnish a solvency certificate from a scheduled bank- In respect of public ware house for a sum of ₹ 2crores; In respect of private and special warehousefor an amount to be specified by the Principal Commissioner of Customs or Commissioner of Customs, as the case may be. The furnishing of solvency certificate shall not be applicable to an undertaking of the Central Government or Statement Go .....

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s been convicted for an offence under any law for the time being in force; he has been penalized for an offence under the Act, the Central Excise Act or service tax; he is of unsound mine and stands so declared by a competent court; the Principal Commissioner of Customs or the Commissioner of Customs, as the case may be, is satisfied that- the site or building of the proposed public/private/special warehouse is not suitable for secure storage of dutiable goods; the site or building of the propos .....

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al Commissioner of Customs or Commissioner of Customs, as the case may be, is satisfied that licence may be granted, he shall require the applicant to- provide an all risk insurance policy, that includes natural calamities, riots, fire, theft, skillful pilferage and commercial crime, in favor of the President of India, for a sum equivalent to the amount of duty involved on the dutiable goods proposed to be stored in the public/private/special warehouse at any point of time; provide an undertakin .....

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r receipt, delivery, storage, dispatch or handling; and appoint a person who has sufficient experience in warehousing operations and customs procedures as warehouse keeper. Grant of licence Upon fulfillment of the conditions the Principal Commissioner of Customs or Commissioner of Customs, as the case may be, may grant a licence in respect of public/private/special warehouse subject to such conditions as deemed necessary. Validity of licence Any licence granted under these regulations shall rema .....

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