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

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....l 2016, Ch IX of the Customs Act, 1962 stands amended, consequent 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 ha....

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....ction 58A (Notification No.66/16 - Cus (NT) dated 14th May 2016). These warehouses shall be under the lock of customs. 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 whi....

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.... shall be deposited, at the into bond bill of entry stage. Hence a module has been developed in ICES to capture details of customs bonded warehouses licensed in each Commissionerate and generate a warehouse code in the system. An option has been provided in AC bond Role IACB] called import Warehouse entry. All Warehouse License Holders are requested to complete this process by 15th of June 2016. From 20thJune 2016, declaring the Warehousing Code in the Bill of Entry would become mandatory for filing Into-Bond and Ex-Bond Bill of Entry. 9. A clarification regarding transitional provisions relating to Duty Free Shops/Ship stores/Airline Stores/Diplomatic Stores has been mentioned in Circular No- 20/2016 dated 20.05.2016 which may be referr....