TaxTMI 
TaxTMI 
Procedure regarding Special Warehouses/Duty Free Shops
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....oms (N.T.) dated 14th May 2016, Special Warehouse Licensing Regulations, 2016, Special Warehouse (Custody & Handling of Goods) Regulations, 2016 and Circular no. 20 / 2016 Customs dated 20th May 2016. 3. It may be noted that the Special Warehouse (Custody & Handling of Goods) Regulations, 2016 prescribe maintenance of a computerized system for accounting. Accordingly, a system of accounting of receipt, storage, operations and removal of goods with regard to Duty Free Shops/Special Warehouses is prescribed below: 4. Maintenance of records of warehoused goods only in digital form: (a) Every licensee shall maintain electronic records of receipt, handling, storage and removal of the warehoused goods based upon data elements conta....
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....the Customs Act, 1962 for warehousing of goods is expiring in a particular month, the licensee shall furnish such information to the bond officer on or before the 10th day of the month immediately preceding the month in which the period of storage of goods in the warehouse is expiring. (b) The monthly return, as per para 4 (a) (i), containing transactions undertaken during the month, shall be filed by the licensee in Form A appended to this circular. The Return may be filed as a paper copy or in digital form, as preferred by the licensee (digital form means, such as, in a Pen drive or CD). The Return need not include details of sales to individual international passengers. These can be verified by the bond officer or any authorised....
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....of entry, transport documents and Form for transfer of goods from a warehouse, send acknowledgement of receipt of goods in the warehouse etc., the licensee shall maintain facilities such as computer, photocopier, scanner and printer at the warehouse. 8. Effective Date: The above requirement of maintaining digital records, in the prescribed Forms, is applicable from the 14th May 2016. Thus, the record of any goods received on or after 14th May 2016 shall be maintained as per the prescribed Forms. It is clarified that data relating to goods already removed from the warehouse by 13th May 2016, are not required to be updated in the digital records. However, the stocks lying for sale in the duty free shops should be entered in the digital ....
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....h the requirement of security to be furnished under section 59 of the Customs Act, 1962 by a DFS operator in respect of his imports (Circular No.21/2016- Customs refers). 10.1 As regards requirements of solvency, as provided under clause (b) of regulation 3 of the Special Warehouse Licensing Regulations 2016, the Board has decided that the Licensee shall furnish a solvency certificate of a value equivalent to the amount of duty involved on the goods proposed to be stored at any point of time. In this connection, it may be noted that proviso to the aforesaid clause, waives the requirements of a solvency certificate in respect of the PSU owned duty free shops (for example, ITDC). 11. Recovery of costs: Clause (e) of Regulation 3 of t....
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....he shall have to undertake supervision on cost recovery basis. Similarly, in case where round the clock services are requested, the licensee will have to bear charges on cost recovery basis for a suitable number of officers. Basically, this issue has to be examined on the above lines for deciding the recovery of costs from the licensee. 12. Administrative arrangements For the purposes of uniformity of jurisdiction and supervision, the Board has also approved the following: a. The duty free shops shall be under the general supervision of the Principal Commissioner/ Commissioner of the Airport (Passenger Terminal). b. A warehouse licensed in the precincts of the Airport complex shall also be in the jurisdiction of the ....
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.... da ed 60( 1) te (only in cases of bond to bond transf er) OTLZO e Qua Dat Shor ntity Breakage tage /damage rece and N ived tim date e of and Dep time osit of intim ating Bond offic er) 123456789 10 11 12 13 14 15 16 17 Handling and storage Removal to DFS Sale through DFS * Incoming Passenger Outgoing passenger Date Date of Activities Sample Date Quanti of expiry undertak drawn by and ty Valu e Duty forgo Quanti ty Valu e Duty forgo Quanti Valu ty e Duty forgo expiry of en governm time of extend under ent o....