The Central Board of Indirect taxes and Customs vide its notification dated 17th August 2020 has published the Manufacture and Other Operations in Special Warehouse Regulations, 2020 which shall be applicable to units that operate under section 65 of the customs Act and units applying for permission to operate warehouse.
Key Highlights from the regulation.
An application under these regulations shall be made to the Principal Commissioner of Customs or the Commissioner of Customs, along with an undertaking to maintain accounts of receipt and removal of goods in digital form in such format as may be specified and furnish the same to the bond officer on monthly basis digitally and shall provide facilities, equipment and personnel as required in these regulations and execute a bond in such format as may be specified.
The Principal Commissioner of Customs or the Commissioner of Customs, upon due verification of the application may grant permission to operate under the provisions of these regulations, along with a licence under section 58A of the Act where required, subject to such conditions as deemed necessary and the permission granted shall remain valid unless it is cancelled or surrendered.
A person who has been granted permission, shall appoint a warehouse keeper who has sufficient experience in warehousing operations and customs procedures to discharge functions on his behalf and shall obtain a digital signature from authorities licensed by the Controller of Certifying Authorities for filing electronic documents.
A licensee shall not allow the transfer of warehoused goods to another warehouse or to a customs station for export without the permission of the bond officer on the form for transfer of goods from a warehouse.
The licensee shall maintain detailed records of the receipt, handling, storing, and removal of any goods into or from the warehouse, as the case may be, and produce the same to the bond officer, as and when required and shall keep a record of each activity, operation or action taken in relation to the warehoused goods.
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