9911796707
TMI BlogProcess of extension of re-warehousing period of Bonded capital goodsX X X X Extracts X X X X X X X X Extracts X X X X ..... s Service Tax, All Principal Chief Commissioners/Chief Commissioners of Customs, All Principal Chief Commissioners/Chief Commissioners of LTU. Sir, Sub: Process of extension of re-warehousing period of Bonded capital goods reg. The STP/EOU/EHTP Units are premises bonded under Section 58 read with Section 65 of the Customs Act, 1962 . Capital Goods imported by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ready addressed this issue vide circular No. 7/2005-Cus dated 14.02.2005 . For ease of understanding by the field formations, the operative part of the said circular is reproduced below: The EOU/ EHTP/STP units are required to obtain private bonded warehousing licence u/s 58 of the Customs Act . The said licence is valid for a period of 5 years and the units are required to apply for ren ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .1.99 would fall due for renewal after initial 5 years period on 1.1.2004. In this case, (i) Assume capital goods have been warehoused on 1-1-2002. Hence, its extension of warehousing falls due on 1-1-2007 (ii) The warehousing license under section 58 becomes due for renewal on 1-1-2004, and the same would be renewed for further five year period i.e upto 1-1-2009 (iii) Extension of w ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
