Warehousing – Grant of extension of warehousing period by the Chief Commissioners under section 61 of the Customs Act, 1962-regarding

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..... housing - Grant of extension of warehousing period by the Chief Commissioners under section 61 of the Customs Act, 1962-regarding As you are aware, section 61 of the Customs Act, 1962 lays down the period for which imported goods can be warehoused. The first proviso to Section 61 of the Customs Act provides that the prescribed period of warehousing, on sufficient cause being shown, can be exten .....

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..... fter the amendment of section 61 of the Customs Act, 1962 was carried out in 1994. 3. The matter has been examined in the Board. High levels of imported bonded goods lying in the warehouses and Customs duty locked up thereon are matters of concern. For this purpose, in the recent past, warehousing provisions under the Customs Act, 1962 have been tightened so as to encourage early clearances from .....

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..... he importer viz. closure of the factory due to strike, lock-out, natural calamities, etc. Financial constraints of the importers are not to be considered as adequate ground for granting extension of warehousing period. 4. While considering the requests for extension of warehousing period, the concerned authority should be satisfied regarding the condition of the goods and should ensure that the .....

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..... ps stores/aircraft stores, Goods supplied to diplomats, Goods warehoused and sold through duty free shops, Goods imported by 100% EOUs , Goods used in the units operating under manufacture-in-bond scheme, Machinery, equipments and raw materials imported for building and fitment to ships. 6. You are requested to advise the trade to file such applications for extension .....

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..... housing period, as contained in the Board's instructions referred in para 2 above, shall continue to be governed by the said instructions. Board's Circular No. 12/98-Cus., dated 06.03.1998, may be treated as subsumed in the present instructions. The contents of this Circular may also be brought to the notice of the field formations and the trade under your jurisdiction suitably. 8. It may be cla .....

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