Private Bonded Warehouses -Further Guidelines

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..... in some quarters regarding methodology to be followed for licensing of private bonded warehouses. Accordingly, further guidelines for grant of such licences are issued and Commissioners are advised to ensure that these guidelines are followed in respect of new applicants and also in respect of the existing private bonded warehouse licences by giving them suitable time for compliance with the fresh .....

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..... ees fifty lakhs (Rs. 50 lakhs); (ii) Such warehouses should not be located in residential areas; (iii) The premises must be carefully checked to ensure that they are secured against theft, pilferage or other risks and are easily accessible for the departmental officers for any surprise checks. In respect of existing licences, their location and other requirements should be reviewed and action .....

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..... of new applicants, their record is clean and that the proprietor or partner or any of the directors are not involved in any customs duty evasion or smuggling offence and have not been subject to a penalty or other action under the Customs Law and similarly under the Central Excise law. Where the applicants have been found to be involved in such offences (other than technical offenses), Commission .....

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..... ch consignments. However, where a wherehouse-keeper wants to have revolving bond with a single bank guarantee for a higher amount, it can be accepted and suitable credit/ debit system for each consignment warehoused/ cleared can be operated.4. For Non- Sensitive Goods (i) The applicant should be solvent and has a goods record. There is no need to insist on a solvency certificate of Rs. 50 lakhs b .....

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..... within the territorial jurisdiction of the Commissioner of Customs and is within a reasonable distance say upto 50 kms, he may wave the bank guarantee if he is satisfied with the bona fides of the party and the goods are sent under escort; (iii) In respect of sensitive goods, the duty should be secured by a transit bond backed by a bank guarantee or a cash security for 50% of the duty involved. .....

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