https://www.taxtmi.com/circulars?id=54911 Prescribes a uniform framework for grant, renewal and administration of licenses for Public and Private Bonded Warehouses under Sections 57-59 of the Customs Act, 1962, requiring scrutiny of financial viability, past compliance, premises suitability, security measures and comprehensive insurance. Private operators handling sensitive goods must furnish additional cash deposit or bank guarantee equal to 25% of duty on maximum stored quantity, and the importer must execute a warehousing bond for twice the assessed duty. Licensing decisions are to be completed within seven working days and approved licensees need not seek Commissioner approval for routine transactions absent material changes. en-us Thu, 15 Oct 2015 00:00:00 +0530 Sat, 22 Oct 2016 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54911 Prescribes a uniform framework for grant, renewal and administration of licenses for Public and Private Bonded Warehouses under Sections 57-59 of the Customs Act, 1962, requiring scrutiny of financial viability, past compliance, premises suitability, security measures and comprehensive insurance. Private operators handling sensitive goods must furnish additional cash deposit or bank guarantee equal to 25% of duty on maximum stored quantity, and the importer must execute a warehousing bond for twice the assessed duty. Licensing decisions are to be completed within seven working days and approved licensees need not seek Commissioner approval for routine transactions absent material changes. Circulars Customs Thu, 15 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54911