Process of extension of re-warehousing period of Bonded capital goods

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ommissioners/Chief Commissioners of Customs, All Principal Chief Commissioners/Chief Commissioners of LTU. Sir, Sub: Process of extension of re-warehousing period of Bonded capital goods -reg. The STP/EOU/EHTP Units are premises bonded under Section 58 read with Section 65 of the Customs Act, 1962. Capital Goods imported by these units are bonded for the periods provided under Section 61. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ease of understanding by the field formations, the operative part of the said circular is reproduced below: "The EOU/ EHTP/STP units are required to obtain private bonded warehousing licence u/s 58 of the Customs Act. The said licence is valid for a period of 5 years and the units are required to apply for renewal after every 5 years. The Board in order to obviate the difficulties of the EOU/E....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (i) Assume capital goods have been warehoused on 1-1-2002. Hence, its extension of warehousing falls due on 1-1-2007 (ii) The warehousing license under section 58 becomes due for renewal on 1-1-2004, and the same would be renewed for further five year period i.e upto 1-1-2009 (iii) Extension of warehousing period for capital goods at (i) above would also be given on 1-1-2004 along with renewa....