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Amendments to Chapter IX of the Customs Act 1962 related to Warehousing

Customs - 50/2016 - Dated:- 8-6-2016 - GOVERNMENT OF INDIA OFFICE OF THE PRINCIPAL COMMISSIONER OF CUSTOMS (PORT) CUSTOM HOUSE, 15/1 STRAND ROAD, KOLKATA-700001 F. No. S-37 (Misc)-24/16 SOA Dated : 08.06.2016 PUBLIC NOTICE NO. 50/2016 Dated 03.06.2016 Sub: - . Attention of all Importers, Exporters, CHA's, Warehouse Owners (Public & Private), members of the trade and all concerned is invited to the amendments made to Ch IX of the Customs Act, 1962 related to warehousing. Pursuant to the e .....

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Goods) Regulations, 2016 g. Warehoused Goods (Removal) Regulations, 2016 [Supersedes Warehoused Goods (Removal) Regulations, 1963). 2. Furthermore, bonds required to be obtained from importer under section 59 have been prescribed under circular no 18/2016 dated 14th May 2016 to replace the bonds earlier prescribed under Board's Circular F. No: 473/82/78 - Cus VII dated 20th April 1978. 3. Also, with the supersession of the Warehoused Goods (Removal) Regulations, 1963 the system of physical e .....

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affixed with a serially numbered one-lime-lock (bottle seal). 4. It may be noted that the regulations on licensing of different types of warehouses contain transitional provisions to enable the warehouses to switch over to record based control in a smooth and orderly manner. The provisions require existing licensees to fulfil certain conditions within a period of three months upon which they can migrate to a system of record based controls and the customs lock can be removed. 5. Section 58A has .....

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re goods notified under notification 66/16-Cus (NT) dated 14th May 2016 namely, goods stored for duty free shops/airline/ship/diplomatic stores. Here again, a transitional period of three months has been provided so as to allow existing arrangements to continue and enable a smooth and orderly transition. 6. With respect to the amendment carried out to section 64 of the Customs Act, It is clarified that any regulatory agency can draw a sample while goods are warehoused. It may also be noted that .....

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licensee have been provided in Warehouse (Custody & Handling of Goods) Regulations, 2016 and Special Warehouse (Custody & Handling of Goods) Regulations, 2016. The regulations also provide for computerization of records in respect of warehoused goods. This is a key component based upon which liberalization in respect of warehousing procedures has been carried out. During the course of trade consultations, it was gathered that licensees are at different stages of automation. While some w .....

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