Cancellation and return of warehousing bond - CBEC's Customs Manual 2025 - Customs

20. Cancellation and return of warehousing bond: 20.1 When the whole of the goods covered by any bond executed under section 59 have been cleared for home consumption or exported or transferred or are otherwise duly accounted for, and when all amounts due on account of such goods have been paid, the proper officer shall cancel the bond as discharged in full, and shall on demand deliver it, so cancelled, to the person who has executed or is entitled to receive it. 20A Custody and removal of warehoused goods- 20A.1 Section 73A of the Customs Act, 1962 provides that all warehoused goods shall remain in the custody of the persons who has been granted a licence under section 57 or section 58 or section 58A until they are cleared for home consumption or are transferred to another warehouse or are exported or removed as otherwise provided under this Act. 20A.2 The responsibilities of the person referred to in sub-section (1) who has custody of the warehoused goods shall be such as may be prescribed. 20A.3 Where any warehoused goods are removed in contravention of section 71, the licensee shall be liable to pay duty, interest, fine and penalties without prejudice to any other action that may be taken against him under this Act or any other law for the time being in force. 20A.4 The Warehoused Goods (Removal) Regulations, 2016 amended vide Warehoused Goods (Removal) Amendment Regulations, 2019, the Warehouse (Custody and Handling of Goods) Regulations, 2016 amended vide Warehouse (Custody and Handling of Goods) Amendment Regulations, 2019 and the Special Warehouse (Custody and Handling of goods) Regulations, 2016 amended vide Special Warehouse (Custody and Handling of goods) Regulations, 2020 exclude their application for such warehouses operating under section 65. The said regulations will continue to be applicable for warehouses, not operating under Section 65. [Refer Notification No. 70/2019-Cus (N.T.) dated 01.10.2019, 71/2019-Cus (N.T.) dated 01.10.2019 and 77/2020-Cus (N.T.) dated 17.08.2020]