Public/ Private bonded warehouses procedure liberalised

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.... existing policy with regard to appointment of public bonded warehouses and licensing of private bonded warehouses has been conducted by the Board. Consequently, it has been decided to liberalise the procedure on the lines indicated in the succeeding paragraphs. 2.0 Appointment of Public Bonded Warehouses :- 2.1 The existing policy of appointing only Central Warehousing Corporation and State....

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.... latter is very carefully scrutinised and factors such as the feasibility and financial viability of the warehouse operator, his credibility, his financial status, his past record to comply with Customs & Excise Laws, his expertise in warehousing field, etc. should be given due consideration. Besides, operational requirements such as, suitability and security of the premises, availability of custo....

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....ences were allowed only in respect of goods which required specialised storage/ handling facilities, e.g., liquid in bulk, hazardous goods, explosive goods, goods requiring controlled temperature conditions, etc. From now onwards, irrespective of whether the goods fall in the above categories or not, the private bonded warehouse licences may be granted. The existing practice of allowing only indus....