Bond requirement under Customs Act: amendment mandates bond filing for warehoused goods and related compliance. Amendment requires filing of a bond under Section 59 for warehoused goods, pursuant to newly issued warehousing, custody and licensing regulations. The Department of Revenue has published notifications and circulars specifying goods eligible for special warehouses, removal and custody rules, licensing regimes, security requirements under the bond framework, procedures for ex-bond bills of entry, interest payment on warehoused goods, and solvency certification; these materials are provided to importers, CHAs and the trading public for guidance and compliance.
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.
Bond requirement under Customs Act: amendment mandates bond filing for warehoused goods and related compliance.
Amendment requires filing of a bond under Section 59 for warehoused goods, pursuant to newly issued warehousing, custody and licensing regulations. The Department of Revenue has published notifications and circulars specifying goods eligible for special warehouses, removal and custody rules, licensing regimes, security requirements under the bond framework, procedures for ex-bond bills of entry, interest payment on warehoused goods, and solvency certification; these materials are provided to importers, CHAs and the trading public for guidance and compliance.
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