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TMI BlogManufacture and other operations in relation to goods in a warehouse:X X X X Extracts X X X X X X X X Extracts X X X X ..... rovide for eligibility conditions for grant of licence, conditions of the bond to be executed by the licensee, maintenance of accounts, appointment of warehouse keeper, provision for facilities, equipment and personnel, conditions for transport and receipt of goods from custom station, from another warehouse, domestically procured goods, transfer of goods from a warehouse, removal of resultant goods for home consumption and export, maintenance of records and conduct of audit etc. The form of application to be filed by an applicant before the jurisdictional Principal Commissioner / Commissioner of Customs, the form of accounts and the bond to be executed to be maintained by a private warehouse (section 58) operating under section 65 is pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Annexure B of Circular No.34/2019-Custom dated 01.10.2019 . 21.4 It may be noted that units operating under section 65 read with section 58 of the Customs Act, are entitled to import capital goods, machinery, inputs etc. by following the provisions under Ch IX. In so far as domestic procurement is concerned, applicable rates of taxes shall be payable and exemptions, if any, can also be availed. By virtue of simply being a unit operating under section 65, they shall not be entitled to procure goods domestically, without payment of taxes. The records in respect of such domestically procured goods shall be indicated in the form for accounts as prescribed. 21.5 Since the warehouse operating under section 65 also functions as a w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 01.07.2017 and its linked circulars. 21.7 Goods (only inputs) can be removed from a Section 65 unit for jobwork and received after jobwork. Capital goods can be sent outside the Section 65 unit for repair, with the permission of the bond officer. The form for maintaining the account of jobwork by a Section 65 unit is prescribed in Annex B of Circular No. 34/2019-Customs dated 01.10.2019 . Further, Section 65 unit, being a GST registered unit, can perform job work operations and should maintain due accounting of such job work as per the provisions of GST law. [Refer to Circular No. 48/2020-Customs dated 27.10.2020 ] - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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