TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Customs Act: Imported Goods Can Be Warehoused for One Year, Transfer Allowed u/s 50.</h1> The circular from the Ministry of Finance, Government of India, informs that following an amendment to Section 61 of the Customs Act, 1962, imported goods can be warehoused for a minimum of one year. It allows the transfer of these bonded goods to another person under Section 50 of the Act. Consequently, the sale of imported warehoused goods to holders of Duty Exemption or duty concession licenses is permitted. The transferee is responsible for clearing the goods from the warehouse by paying any applicable customs duty and meeting licensing requirements.
TaxTMI 
TaxTMI 
