Warehousing - Waiver of physical warehousing at the port of importation - Customs - F. No. 473/16/88-Cus. VII

Warehousing - Waiver of physical warehousing at the port of importation F. No. 473/16/88-Cus. VII Dated 15-6-1988 Government of India Ministry of Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Warehousing - Waiver of physical warehousing at the port of importation. Please refer to Board's letter F.No. 473/227/87-Cus. VII, dated 24-8-1987 on the above subject. 2. The Board have decided to terminate the practice of granting ex-post facto approval of waiver of the requirement of physical warehousing at the port of importation. The instructions issued in F.No. 473/157/74-Cus. VII dated 23-4-1975 are, therefore, rescinded. 3. In the following cases, Asstt. Collectors of Customs may grant waiver of physical warehousing with the approval of the Collector, if necessary, ex-post-facto. (a) Constructive warehousing under section 60 : (i) Merchanting trade i.e., goods imported for supply to other foreign countries. This sort of merchanting trade is permitted by the RBI as per Chapter 13 of the Exchange Control Manual. (ii) Cases where duties are not Collected i.e., stores, spare parts, fuel for vessels etc. or "stores" as defined in Section 2(38) of the Customs Act, 1962. (b) Constructive warehousing under section 67 : (i) Equipment, machinery and raw-materials for 100% EOU's located outside the port city and, therefore, in urgent need of equipment. (ii) Companies with manufacture-in-bond permissions under Section 65. (iii) Bulky, heavy and dangerous and delicate items, which require special handling or air-conditioning. (iv) Goods belonging to reputed companies which have urgent reasons for immediate clearance.