Amendments to Chapter IX of the Customs Act, 1962 related to Warehousing

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....equent to which, the following have been notified on 14th May 2016 : a. Public Warehouse Licensing Regulations, 2016 b. Private Warehouse Licensing Regulations, 2016 c. Special Warehouse Licensing Regulations, 2016 d. Notification 66/16 - Cus (NT) dated 14th May 2016 under sub-Section (2) of Section 58A e. Warehouse (Custody and Handling of Goods) Regulations, 2016 f. Special Warehouse (Custody and Handling of Goods) Regulations, 2016 g. Warehoused Goods (Removal) Regulations, 2016 [Supersedes Warehoused Goods (Removal) Regulations, 1963). 2. Furthermore, bonds required to be obtained from importer under section 59 have been prescribed under circular no 18/2016 dated 14th May 2016 to replace the bonds earlier prescribed under....

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....s. An existing licensee or any new applicant shall be required to apply for a license under Special Warehouse Licensing Regulations, 2016, if they propose to store or continue to store goods notified under notification 66/16-Cus (NT) dated 14th May 2016 namely, goods stored for duty free shops/airline/ship/diplomatic stores. Here again, a transitional period of three months has been provided so as to allow existing arrangements to continue and enable a smooth and orderly transition. 6. With respect to the amendment carried out to section 64 of the Customs Act, It is clarified that any regulatory agency can draw a sample while goods are warehoused. It may also be noted that the Warehouse (Custody & Handling of Goods) Regulations, 2016 and S....