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of <h1>New Regulations for Private Warehouse Licensing Under Customs Act: Eligibility, Conditions, and Compliance Details Explained.</h1> The Private Warehouse Licensing Regulations, 2016, issued by the Central Board of Excise and Customs, outline the procedures and requirements for obtaining a private warehouse license under the Customs Act, 1962. Applicants must be Indian citizens or registered entities, provide a solvency certificate, and meet specific conditions set by customs authorities. Licenses are granted if the premises are suitable for secure storage and customs supervision. Licensees must maintain insurance and appoint experienced warehouse keepers. Licenses are non-transferable, valid indefinitely unless canceled, and can be surrendered if conditions are met. Existing warehouses must comply with new regulations within three months.
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