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of <h1>Customs issues circular requiring immediate Section 60 orders after warehousing bond acceptance to prevent revenue loss</h1> The Central Board of Excise and Customs issued this circular addressing procedural irregularities in warehousing imported goods. An audit revealed that an importer filed a warehousing bill of entry and executed a warehousing bond under Section 59 of the Customs Act, 1962, which was accepted by the customs house. However, the importer failed to obtain the required order under Section 60 for depositing goods in the warehouse, causing delays. When clearance was later sought, the Section 60 order was obtained at a delayed stage, resulting in revenue loss due to incorrect determination of the warehousing period. The circular directs all custom houses to establish procedures ensuring immediate grant of Section 60 orders upon acceptance of warehousing bonds to prevent such irregularities.
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