Warehousing rights allow sale of imported bonded goods to duty-concession licence holders, subject to duty payment and licence compliance. Amendment permits all imported goods to be warehoused for a minimum of one year and allows transfer of bonded goods to third parties. Sale of imported warehoused capital goods, spares and consumables to duty-exemption or duty-concession licence holders is allowed; the transferee may clear goods from the warehouse only after payment of applicable customs duty and fulfilment of the relevant licensing provisions.
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.
Warehousing rights allow sale of imported bonded goods to duty-concession licence holders, subject to duty payment and licence compliance.
Amendment permits all imported goods to be warehoused for a minimum of one year and allows transfer of bonded goods to third parties. Sale of imported warehoused capital goods, spares and consumables to duty-exemption or duty-concession licence holders is allowed; the transferee may clear goods from the warehouse only after payment of applicable customs duty and fulfilment of the relevant licensing provisions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.