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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 65 Customs Act: Simplified Licensing for Bonded Warehouses, Digital Records Required, Export Exemptions, and Monthly Returns.</h1> The circular outlines the provisions under Section 65 of the Customs Act, 1962, concerning manufacturing and other operations in Customs Bonded Warehouses. It mandates that applicants must have premises licensed under Section 58 and simplifies the process by introducing a single application form for licensing and permissions. Amendments require digital maintenance of accounts, combining records for ease of business. Exported products from bonded warehouses are exempt from import duties, while domestic consumption incurs GST and import duties. Waste from operations is subject to import duties, and capital goods can be imported under specific provisions. Monthly returns and records are obligatory.
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