Warehousing conditions for dutiable goods required partial duty deposit, bond execution, and continued liability for charges and penalties. Section 59A of the Customs Act, 1962, though later omitted, had prescribed conditions for warehousing certain dutiable goods assessed under section 17 or section 18. It required the importer to deposit fifty per cent of the assessed duty and execute a bond for twice the balance of duty and interest, securing compliance with the Act, payment of duties, rent, charges and penalties, adjustment of duty paid against final duty, and continued validity of the bond despite transfer or movement of the goods.
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Provisions expressly mentioned in the judgment/order text.
Warehousing conditions for dutiable goods required partial duty deposit, bond execution, and continued liability for charges and penalties.
Section 59A of the Customs Act, 1962, though later omitted, had prescribed conditions for warehousing certain dutiable goods assessed under section 17 or section 18. It required the importer to deposit fifty per cent of the assessed duty and execute a bond for twice the balance of duty and interest, securing compliance with the Act, payment of duties, rent, charges and penalties, adjustment of duty paid against final duty, and continued validity of the bond despite transfer or movement of the goods.
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