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TMI BlogProcedure to be followed in cases of manufacturing or other operations undertaken in bonded warehouses under section 65 of the Customs ActX X X X Extracts X X X X X X X X Extracts X X X X ..... Attention of all the Importers, Exporters, General Trade, Other stake holders and Officers of JNCH is invited to the issue of procedure to be followed in cases of manufacturing or other operations undertaken in bonded warehouses under section 65 of the Customs Act,1962 . Section 65 of the Customs Act, 1962 (hereinafter referred to as, the Customs Act ) provides for manufacturing as well as carrying out other operations in a bonded warehouse. 2. Under section 65, the Board has prescribed Manufacture and Other Operations in Warehouse Regulations, 1966 (MOOWR, 1966). These regulations provide for an application seeking permission under section 65, conditions of the bond to be executed by the licensee, maintenance of accou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... use (Custody and Handling of Goods) Regulations, 2016 were notified on 14th May 2016 and Circular No. 25/2016-Cus dated 8th June 2016 was issued, which collectively enjoins that licensees shall maintain accounts of receipt and removal in prescribed formats in digital form and furnish the same to the bond officer on monthly basis digitally. Therefore, a licensee carrying out manufacturing or other operations in a bonded warehouse under section 65 becomes obligated to maintain accounts as per MOOWR, 1966 and at the same time also maintain records as private bonded warehouse. For the ease of doing business, it has been decided that a licensee operating under section 65, shall not be required to maintain two sets of records. Henceforth, the lic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 2017 or section 5 of the Integrated Goods and Services Tax Act, 2017 depending upon the supply being intra-state or inter-state. The resultant product will thus be supplied from the warehouse under the cover of GST invoice on the payment of appropriate GST and compensation cess, if any. As regards import duties payable on the imported goods contained in so much of the resultant products are concerned, same shall be paid at the time of supply of the resultant product from the warehouse for which the licensee shall have to file an ex-bond Bill of entry and such transactions shall be duly reflected in the accounts prescribed under Annexure B. 7. For waste or refuse arising out of manufacture and other operations in relation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fine and penalty, if any, along with interest as per sub-section (2) of section 61 of the Act. The licensees shall also be required to maintain to submit monthly returns in Form B as prescribed under Circular No. 25/2016-Cus dated 8th June 2016 for such purposes. 11. Dy. Commissioner/Asstt. Commissioner Bond is appointed as nodal officer for the said purpose, who can be contacted through email/phone (email address: [email protected]), Phone No: 02227244759. 12. Difficulty, if any may be brought to the notice of Additional/Joint Commissioner, Bond Department. 13. This Public Notice should be considered as Standing Order for the purpose of Officers and staff. (S. K. Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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