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Insurance requirement: re-warehousing transfers must be secured by insurance alongside transit bond to protect customs duty. The circular amends prior instructions so that movements of imported goods for re-warehousing from a major port to an inland warehousing station must be secured by a transit bond together with an insurance policy to ensure adequate security for customs duty; other provisions of the earlier circular remain unchanged.
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Insurance requirement: re-warehousing transfers must be secured by insurance alongside transit bond to protect customs duty.
The circular amends prior instructions so that movements of imported goods for re-warehousing from a major port to an inland warehousing station must be secured by a transit bond together with an insurance policy to ensure adequate security for customs duty; other provisions of the earlier circular remain unchanged.
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