https://www.taxtmi.com/circulars?id=62523 Security under section 59(3) requires an importer who executes a warehousing bond to furnish security; specified public bodies, power and project imports, petroleum, shipbuilding inputs, manufacture-in-bond units, diplomatic and duty free consignments, and ship/airline stores are exempt. Transit requires comprehensive transit risk insurance in favour of the President of India, subject to narrow operational exceptions. For storage, no security is needed for the first year, with progressive bank guarantee requirements for extensions; sensitive goods attract higher guarantees and private bonded warehouse storage requires a bank guarantee equivalent to duty at import. en-us Wed, 29 Jun 2016 00:00:00 +0530 Thu, 19 Sep 2019 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62523 Security under section 59(3) requires an importer who executes a warehousing bond to furnish security; specified public bodies, power and project imports, petroleum, shipbuilding inputs, manufacture-in-bond units, diplomatic and duty free consignments, and ship/airline stores are exempt. Transit requires comprehensive transit risk insurance in favour of the President of India, subject to narrow operational exceptions. For storage, no security is needed for the first year, with progressive bank guarantee requirements for extensions; sensitive goods attract higher guarantees and private bonded warehouse storage requires a bank guarantee equivalent to duty at import. Circulars Customs Wed, 29 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62523