Strong-room access control requires exclusive storage of dutiable goods with supervised entry and periodic stock reconciliation. Regulation limits strong-room storage to dutiable specified goods and mandates that the bond officer lock and supervise all access. The warehouse keeper must conduct physical stock taking, in the bond officer's presence at least once every six months, to confirm records match physical stock and that removed goods are accounted for as work-in-progress, used in permitted operations, exported, or cleared domestically. Both warehouse keeper and bond officer must sign duplicate stock summaries; discrepancies trigger action under the Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Strong-room access control requires exclusive storage of dutiable goods with supervised entry and periodic stock reconciliation.
Regulation limits strong-room storage to dutiable specified goods and mandates that the bond officer lock and supervise all access. The warehouse keeper must conduct physical stock taking, in the bond officer's presence at least once every six months, to confirm records match physical stock and that removed goods are accounted for as work-in-progress, used in permitted operations, exported, or cleared domestically. Both warehouse keeper and bond officer must sign duplicate stock summaries; discrepancies trigger action under the Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
