Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

Allotment of warehouse code for Customs Bonded Warehouses

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ifications issued by the Board, which are available in the website URL http://www.cbec.gov.in/Customs/Notifications/Non-Tariff . i. Notification No.66/2016 cus (NT) dt 14.5.16-regarding class of goods to be warehoused in the Special Warehouses. ii. Notification No.67/2016 cus (NT) dt 14.5.16-regarding Warehoused Goods (Removal) Regulations, 2016. iii. Notification No.68/2016 cus (NT) dt 14.5.16-regarding Warehouse (Custody Handling of Goods) Regulations, 2016. iv. Notification No.69/2016 cus (NT) dt 14.5.16-regarding Special Warehouse (Custody Handling of Goods) Regulations, 2016. v. Notification No.70/2016 cus (NT) dt 14.5.16-regarding Public Warehouse Licensing Regulations, 2016. vi. Notification No.71/2016 cus (NT) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Warehoused Goods (Removal) Regulations, 1963 have been superceded by the Warehoused Goods (Removal) Regulations, 2016 and the system of physical escorting of goods within the same town has been dispensed with for movement of goods from one warehouse to another. Escorting will also not be required for movement of goods from a warehouse to a customs station for export. These movements would be done by affixation of a one-time-lock. Instructions have been issued under Board s circular No.17 / 2016 dated 14th May 2016 regarding removal of goods from a customs station to a warehouse which also requires that the container or means of transport be affixed with a serially numbered one-time-lock (bottle seal). 5. Section 58A has been enacted to p .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... arehoused goods. This is a key component based upon which liberalization in respect of warehousing procedures has been carried out. Warehouse keepers are advised to acquire I.T. capabilities for inventory management at the earliest. 8. The ICES system had default code as INNML101 as warehousing code while filing warehousing Bills of Entry and other purposes. There is no code to distinguish the warehouses presently. After 15th June this default code would be removed mandating the codes of individual registered warehouses to be entered. The existing warehouse licence holders are advised to comply with the relevant notifications within the prescribed time period, if they wish to continue holding the licence for storage of goods. 9. Diffi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates