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of <h1>Customs Act Section 57: Licensing Public Warehouses Requires Indian Citizenship, Compliance, and Solvency Certificate; Waivers for Government Entities.</h1> Section 57 of the Customs Act, 1962, authorizes the Principal Commissioner or Commissioner of Customs to license public warehouses for storing dutiable goods, subject to prescribed conditions. Applications for such licenses are scrutinized based on criteria including Indian citizenship or legal registration, compliance with specified terms, and provision of a solvency certificate from a scheduled bank for two crore rupees. This solvency requirement is waived for government undertakings and certain ports.
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