Warehousing of goods- Fresh instructions

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....that the Department had failed to initiate timely action under section 72 of the Customs Act, 1962 in respect of the consignment of imported and bonded ship stores leading to the loss of Government Revenue. On ascertaining the facts it was learnt that the goods were of perishable nature and had been lying in the warehouse ranging between one to five years. Such goods had lost their commercial valu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... In order to ensure that such situation as reported by the Audit does not occur again the Board desires that : i) Care should be taken while granting extension in warehousing period particularly to the goods having limited shelf life and/ or those of perishable nature. ii) Where the warehoused goods have not been removed from a warehouse at the expiration of the period during which such goods ....