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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Finance Act 2016: New Licensing Rules for Special Warehouses u/s 58A; Duty-Free Shops Exempted as Warehouses.</h1> The Finance Act, 2016 introduces Section 58A to Chapter IX of the Customs Act, allowing for the licensing of special warehouses for dutiable goods. Licensees of existing warehouses storing goods for duty-free shops, ship stores, or diplomatic stores must apply for a new license under Section 58A to continue operations beyond a three-month transitional period. Duty-free shops are not considered warehouses but points of sale for goods removed from bonded warehouses. The notice outlines application procedures, timelines, and clarifies cost recovery for customs services. Interactive sessions are recommended to ensure smooth transitions for stakeholders.