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TMI BlogManner of application and procedure to be followed under section 65 of the Customs Act, 1962, for manufacturing or carrying out other operations in a bonded warehouseX X X X Extracts X X X X X X X X Extracts X X X X ..... ed 18.10.2018 prescribing the manner of application and procedure to be followed for manufacturing or carrying out other operations in a bonded warehouse under section 65 of the Customs Act, 1962. 2. 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. 3. 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 accounts, conduct of special audit and cancellation / suspension of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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 licensees manufacturing or carrying out other operations in a bonded warehouse shall be required to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 appropnate 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. 8. For waste or refuse arising out of manufacture and other operations in relation to the resultant products cleared for home consumption, import duty on the quantity of the warehoused goods con ..... X X X X Extracts X X X X X X X X Extracts X X X X
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