CBIC Releases
Detailed Circular on Manufacturing under Bond (Sec.65) of CA, 1962 following
Release of Revised Regulation on 1 Oct 2019 – Circular No. 34/2019-Customs
dated 1 October 2019
Highlights
1. |
MOOWR 2019 to Operate Independent of
Other Warehouse Regulations issued in 2018 |
Para 4 |
2. |
Annexure ‘A’ Form for MOOWR 2019
Prescribed |
Para 5 |
3. |
Annexure ‘C’ of Sec. 59 is to be
used for Triple Duty Bond (Also available as annexure to Circular 34/2019 dtd 1 Oct 2019) |
Para 6 |
4. |
GST Invoice is required with
Shipping Bill for Exports |
Para 7 |
5. |
Movements into DTA is Classified as
“Supply” under CGST Act, 2017 and GST will be applicable |
Para 8 |
6. |
Customs Duty has to be paid on the
Inputs under Ex-bond Bill of Entry and accounted in Annexure ‘B’ for MOOWR
2019 along with Input Output Norms |
Para 8 |
7. |
Waste is cleared for home
consumption on payment of customs duty and GST |
Para 9 |
8. |
Customs Duty is Deposited Manually
through Challan |
Para 10 |
9. |
Capital Goods can be imported Duty
Free under Sec. 65 while those from DTA must pay GST |
Para 11 |
10. |
Declaration to be in Annexure ‘B’ of
MOOWR 2019 |
Para 11 |
11. |
Sec. 65 also functions as Warehouse
for Trading, Goods in Original Form can be cleared into DTA, Monthly Return
in Form ‘B’ under Ntfn 25/2016-Cus dated 8 June
2016 |
Para 12 |
12. |
Warehouse Building Structure need
not be closed, only access control is required. A part of factory can be
warehouse under Sec. 65 |
Para 13 |
13. |
Exempted goods or Nil rated goods
from DTA can be brought into the Sec. 65 Warehouse. These goods will not be
considered as “warehouse goods” under Sec. 60 of the CA 1962 |
Para 14 |
14. |
Permission of the proper office is
required for removal from Sec. 65 warehouse under sections 67 to 69 of CA
1962. However, prior permission is not necessary under Section 143AA. Post
facto approval can be given. |
Para 15 |
15. |
Self-Sealing for Export can be used
under Circular 26/2017 dated 01.07.2017 |
Para 15.1 |
16. |
A Micro web site is available to
help Sec.65 manufacturing in the InvestIndia.gov.in website. |
Para 16 |
17. |
Application for Licence is
Provided to the Circular under Annexure ‘A’ |
|
[CBIC Circular No. 34 dated 1st
October 2019]
Subject:
Procedure to be followed in cases of manufacturing or other operations
undertaken in bonded warehouses under section 65 of the Customs Act.
Please
refer to the Manufacture and Other Operations in Warehouse Regulations 2019,
issued vide Notification No. 44/2019-Customs (N.T) dated 19th June, 2019 and
Circular 38/2018-Customs dated 18.10.2018 issued to streamline the procedure,
documentation and compliances to be followed under Section 65 of the Customs
Act, 1962 (hereinafter referred to as the “Act”).
2.
Representations have been received from the trade including potential investors
seeking clarifications on some issues. With a view to provide clarity and
predictability and to facilitate investments, Board has decided to issue a
revised circular along with the Manufacture and Other Operations in Warehouse
Regulations 2019 (no. 2 regulations), issued vide Notification
No.69/2019-Customs (N.T.) dated 01.10.2019, hereinafter referred to as, “MOOWR,
2019”. Circular 38/2018-Customs stands consolidated and integrated into this
Circular.
2.
MOOWR, 2019 and this circular covers the procedures and documentation for units
operating under Section 65 in a comprehensive manner, including application for
seeking permission under section 65, provision of execution of the bond by the
licensee, receipt, storage and removal of goods, maintenance of accounts,
conduct of audit etc.
3.
Consequently, the Warehouse (Custody and Handling of Goods) Regulations, 2016,
and the Warehoused Goods (Removal) Regulations, 2016, which were hitherto
governing the procedure for custody and handling of goods in and removal of
goods from public and private bonded warehouses, have been amended vide
Notification 70/2019-Customs (N.T.) and 71/2019-Customs (N.T.) both dated
01.10.2019 to exclude their application for warehouses operating under section
65. The said regulations will continue to be applicable for warehouses, not
operating under Section 65.
4.
It is to be noted that an applicant desirous of manufacturing or carrying out
other operations in a bonded warehouse under section 65 read with MOOWR, 2019
must also have the premises licensed as a private bonded warehouse under
section 58 of the Customs Act. The applicants can seek a license under section
58 and permission to operate under section 65 synchronously, or request for
permission under section 65, if they already have a warehouse licensed under
section 58.
5.
For the sake of uniformity, ease of doing business and exercising due diligence
in grant of permission under section 65, the form of application to be filed by
an applicant before the jurisdictional Principal Commissioner / Commissioner of
Customs is prescribed as in Annexure
A. The form of application has been so
designed that the process for seeking grant of license as a private bonded
warehouse as well as permission to carry out manufacturing or other operations
stands integrated into a single form. The declaration to be made to satisfy
regulation 5 of Private Warehouse Licensing regulations 2016 and the
undertaking to be made by the applicant as per regulation 4 of MOOWR 2019 is
included in the application format (Part II). The warehouse in which section 65
permission is granted shall also be declared by the Licensee as the
principal/additional place of business for the purposes of GST.
6.
It has also been decided that the licensees manufacturing or carrying out other
operations in a bonded warehouse shall be required to maintain records as per
the form prescribed under this circular (Annexure
B). Regulation 4 of the MOOWR, 2019,
provides that the applicant under section 65 shall undertake to execute a bond
in such format as specified. Further, Section 59 of the Customs Act requires
the owner of the warehoused goods to execute a triple duty bond for the
warehoused goods. Thus, the bond prescribed under this Circular as per Annexure C serves the requirements of both MOOWR,
2019 and Section 59 of the Customs Act.
7.
To the extent that the resultant product manufactured or worked upon in a
bonded warehouse is exported, the licensee shall have to file a shipping bill
and pay any amounts due. A GST invoice shall also be issued for such removal.
In such a case, no duty is required to be paid in respect of the imported goods
contained in the resultant product as per the provisions of section 69 of the
Act.
8.
To the extent that the resultant product (whether emerging out of manufacturing
or other operations in the warehouse) is cleared for domestic consumption, such
a transaction squarely falls within the ambit of “supply” under Section 7 of
the Central Goods and Service Tax Act, 2017 (hereinafter referred to as the,
“CGST Act”). It would therefore be taxable in terms of section 9 of the CGST
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 to the domestic tariff area
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. As per MOOWR, 2019, the applicant shall also
inform the input-output norms, wherever considered necessary, for raw materials
and final products and shall also inform the revised input-output norms in case
of change therein.
9.
The waste generated during the course of manufacture of the resultant product
may be cleared for home consumption as per clause (b) to sub-section (2) of
section 65 of the Customs Act on payment of applicable duties of customs and
GST.
10.
In cases where the resultant product is exported, and
duty on the waste or refuse is paid as per proviso to clause (a) to sub-section
(2) of section 65, the same shall be deposited manually through a Challan. The
records maintained as per Annexure-B would be sufficient for accountal of such goods.
11.
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 Chapter 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 (Annexure B).
12.
Since the warehouse operating under section 65 also functions as a warehouse
licensed under section 58, the licensees can also import goods and clear them
as such, for home consumption under section 68 on payment of import duties,
along with interest as per subsection (2) of section 61 of the Act or clear
them as such for export under section 69 of the Act. The licensees shall also
be required to submit monthly returns in “Form B” as prescribed under Circular
No. 25/2016-Cus dated 8th June 2016 in case the warehouse is used for such
purposes i.e. non-section 65 purposes. This is being allowed to enable optimum
utilization of available infrastructure.
13.
As per Regulation 3 (2) (e) (i) of the Private
Warehouse Licensing Regulations, 2016, the Principal Commissioner or
Commissioner has to be satisfied that the site or building of the proposed
private warehouse is suitable for secure storage of dutiable goods. Regulation
8 of MOOWR 2019 requires the licensee to provide such facilities, equipment and
personnel as are sufficient to control access to the warehouse, provide secure
storage of the goods and ensure compliance to the regulations. Thus, the
regulations do not mandate that a structure fully closed from all sides is a
pre-requisite for grant of license. What is important is that the site or
building is suitable for secure storage of goods and discharge of compliances,
such as proper boundary walls, gate(s) with access control and personnel to
safeguard the premises. Moreover, depending on the nature of goods used, the
operations conducted and the industry, some units may operate without fully
closed structures. Therefore, Principal Commissioner/Commissioners should take
into consideration the facilities, equipment and personnel put in place for secure
storage of goods, while considering grant of license.
14.
The issue of procurement of imported goods that are exempt from duty or are
chargeable to nil rate of duty into a warehouse operating under section 65 has
also been raised. The objective of section 65 is to enable manufacture and
other operations in customs bonded warehouses. For this purpose, the units
should be able to procure required raw materials, consumables, capital goods
etc., imported or procured from domestic market. The goods may include dutiable
goods, exempt goods or those chargeable to nil rate of duty. Denial of the
facility to exempt goods or those chargeable to nil rate of duty, which may be
required for manufacturing, would defeat the objective of Section 65. It is
therefore clarified that imported goods, that are exempt from duty or are
chargeable to nil rate of duty, may be brought into the warehouse, upon filing
a bill of entry for home consumption and clearance, at the customs station of
import. Such goods shall not be considered as warehoused goods in terms of
section 60 of the Act.
15. Sections 67, 68 and 69 of the Act provides for permission of
the proper officer for removal of the goods from one warehouse to another, for
home consumption and for export, respectively. Even in cases, the resultant
goods are being removed, permission of the proper officer would be required for
removal of the (imported) warehoused goods contained in the resultant goods.
15.1 Given the continuous nature of operations in warehouses under
section 65, and the potential need to clear resultant goods expeditiously, the
requirement to obtain prior permission of the proper officer for each clearance
could pose a challenge to making clearances on time to meet delivery schedules.
Therefore to facilitate such timely clearances and for convenience of the
trade, recourse has been taken to the powers vested under Section 143 AA, and
it is provided under regulation 13, 14 and 15 of MOOWR 2019 that while a
licensee shall file the due documentation (such as the Form for transfer of
goods from a warehouse, bill of entry and shipping bill, respectively) and pay
the duties due, prior permission of the proper officer is not an essential
condition for removal of the warehoused goods (as part of the resultant goods).
The licensees who wish to avail self-sealing facility for exports can avail the
facility made available under circular 26/2017 customs dated 01.07.2017 and its
linked circulars.
16. Board has partnered with Invest India under the Department for
Promotion of Industry and Internal Trade, Ministry of Commerce and Industry,
Government of India to launch a microsite for the promotion of the scheme and
facilitation of investors. The same can be accessed at https://www.investindia.gov.in/bonded-manufacturing. The microsite also hosts a
digitized application that an applicant can fill online, upload the supporting
documents, submit online and also print the application form.
17. Clarification required, if any, may be sought from the Board.
Annexure- A
Application
for License for a private bonded warehouse under section 58 and permission for
manufacturing and other operations under section 65 of the Customs Act 1962.
Part I
(to be
filled by the applicant)
1.
Name of the Applicant:
2.
PAN No:
3.
GSTIN:
4.
IEC:
5.
Constitution of business (Tick as applicable and attach copy)
(i) Proprietorship
(ii)
Partnership
(iii)
Limited Liability Partnership
(iv) Registered Public Limited Company
(v)
Registered Private Limited Company
(vi) Registered Trust
(vii)
Society/Cooperative society
(viii)
Others (please specify)
Note:
Copy of certificate of incorporation along with Memorandum of Objects and
Article of Association in case of companies and partnership deed in case of
partnership firms should be attached.
6.
Registered office:
Address:
Tel:
Fax:
E-mail:
7.
Bank Account details:
Name
of the Bank:
Branch
name:
Account
Number:
8.
Name, Address & DIN (if applicable):
[of Proprietor/Partners/Directors etc.
(Please
attach copies of ID proof)].
9.
Name & Designation of the Authorized Signatory:
(Please
attach copy of Aadhaar Card as proof of ID).
10.
Details of existing manufacturing facilities in India and/or Overseas of the
applicant firm and of each of its directors/partners/proprietor, as the case
may be (please attach separate sheet if required):
Part II
(to be
filled by the applicant)
1.
Address of the proposed site or building:
2.
Boundaries of the warehouse:
(i) North
(ii)
South
(iii)West
(iv) East
3.
Details of property holding rights of the applicant (please provide supporting
document):
(i) Owner
(ii)
Lease/rent
4.
Contact details at the site/premises:
(i) Tel:
(ii)
Fax
(iii)email
(iv) Website, if any
5.
Details of warehouse license issued earlier to the applicant, if any:
(i) Date of issue of licence.
(ii)
Commissionerate file No.
(iii)
Attach copy of warehouse license.
6.
Whether the applicant is a Licensed Customs Broker? If yes, please provide
details:
7.
Whether the applicant is AEO? If yes, please provide details.
8.
Description of Premises (fill details as applicable to the premises):
(Please
enclose a ground plan of the site / premises indicating all points of
exit/entry/ area of
storage / area of manufacturing / earmarked
area of office)
(i) What is floor area?
(ii)
Number of stories?
(iii)
Total area (or cubic capacity) available for storage?
(iv) Identify and mark area(s), occupied by third
parties in the ground plan:
(v)
What is the type of construction of walls and roof?
(vi) Which year has the building been built? Has
it been recently remodelled? If so, when?
(vii)
Identify by location and size all accesses to the site / building to pedestrian
and vehicles:
(viii)
Identify by location and size all other accesses to the building including
doors & windows:
(ix)
Please indicate whether the premises have been authorized for commercial use by
local Government authorities?
9.
Goods proposed to be manufactured or other operations proposed to be carried
out (if necessary, additional sheets may be attached).
Details
of goods: |
Description
of goods |
Classification
as per Customs Tariff |
Briefly
detail, input- out norms (if applicable) Please attach any supporting
publication/ document, if available. |
proposed
to be imported |
|
|
|
proposed
to be domestically procured |
|
|
|
intermediate
product |
|
|
|
final
product |
|
|
|
details
of waste & scrap |
|
|
|
In
case of any change in the nature of operations subsequent to the grant of permission,
the same shall be informed to the Jurisdictional Commissioner of Customs within
15 days.
10.
SECURITY FACILITIES AT THE PREMISES, EXISTING OR PROPOSED:
(i) Burglar Alarm System:
(ii)
CCTV Facility:
a.
Is there a CCTV monitoring system
installed to cover the surrounding area of the site and storage area?
b.
Please indicate the no. of cameras
installed:
c.
No. of hours/days of recording
accessible at any point of time:
(iii)
Security Personnel:
a.
Details of arrangements for round the clock security provided for the
warehouse:
b.
Name & details of firm contracted for security services:
c. No. of personnel to be deployed on each shift for round
the clock security:
(iv) Fire Security:
(Please
enclose a fire safety audit certificate issued by a qualified independent
agency)
11.
DECLARATION:
I/
We declare that:
1.
I/We are a registered or incorporated entity in India.
2.
I / We have not been declared insolvent or bankrupt by a court or tribunal.
3.
I/We have not been convicted for an offence under any law.
4.
I/We have neither been penalized or convicted nor are being prosecuted for an
offence under the Customs Act, 1962 or Central Excise Act, 1944 or Finance Act,
1994 or Central Goods and Services Tax Act,2017 or Integrated Goods and
Services Tax Act,2017 or Goods and Services Tax (Compensation to States)
Act,2017.
5.
There is no bankruptcy or criminal proceedings pending against me / us.
6.
I/We hereby declare that the information given in this application form is
true, correct and complete in every respect and that I am authorized to sign on
behalf of the Licensee. I further undertake that if any particulars declared by
me/us are proved to be false, the license granted to me/us shall be liable to
be cancelled and I/we shall be liable for action under Customs Act, 1962.
12.
UNDERTAKING.
I/We
undertake to:
(i) maintain accounts of receipt
and removal of goods in digital form in such format as many be specified and
furnish the same to the bond officer on monthly basis digitally.
(ii)
execute a bond in such format as may be specified.
(iii)
inform the input-output norms, wherever considered
necessary for raw materials and the final products and to inform the revised
input-output norms in case of change therein.
(iv)
comply with such terms & conditions as may be
specified by the Principal Commissioner of Customs or the Commissioner of
Customs.
(Signature
of the applicant/authorized signatory)
Stamp
Date:
Place:
Part III
(For Use by Customs Only)
1.
Verification of the applicant:
[verification to be done of the Declaration made by applicant
as per serial no.11 of Part - II of the application. Verification to be done by
DRI / DGGI. Grant of license may NOT be held up pending verification.]
2.
Date of visit to the premises by the bond officer:
3.
Findings of the bond officer with respect to security, fire protection, IT
enabled inventory management system, type of construction, area available for
examination of goods, if required etc.
4.
Is the Premises recommended for issue of license as a warehouse along with
permission for manufacture or other operations?
Signature:
Name:
Designation:
Date:
Part IV
(For use by Customs Only)
1.
Upon the satisfaction of the Commissioner that the licence
may be granted, the following shall be obtained from the applicant (Please
refer Regulation 4 of Private Warehouse Licensing Regulations, 2016):
(i) Insurance Policy.
(ii)
Undertaking under section 73A.
(iii)
Indemnity undertaking.
(iv) Bond as per Annexure C to this Circular.
(v)
Details of Warehouse keeper appointed by the Licensee:
(a)
Name
(b)
Address (residential)
(c)
Tele: (office)
(d)
Tele: (mobile)
(e)
E-mail id:
(vi) Confirmation that digital signature has been
obtained by the warehouse keeper (as per
guidance available on ICEGATE website).
2.
Licence No. and date of issue:
3.
Warehouse Registration Code on ICEGATE (refer Circular 19/2016 dated 20th May
2016):
Signature:
Name:
Designation:
Date:
Part V
(For
use by Customs only)
(Details
of commencement of manufacture or other operations in the Warehouse)
1.
Date of verification visit to certify commencement of manufacture or other
operations in the Warehouse:
2.
Name of the officials who visited the premises:
3.
VERIFICATION REPORT:
(i) I have verified that the unit has commenced manufacture
or other operations.
(ii)
I have verified that records are being maintained by the licensee as prescribed
under Annexure B of Circular 34/2019-Customs dated 01.10.2019.
Signature:
Name:
Designation:
Date:
Annexure-B
Form to be maintained by a unit
operating under section 65 of the Customs Act for the receipt, processing and
removal of goods.
Name
and address of the Unit:
IEC:
GSTIN:
Commissionerate:
RECEIPTS
(IMPORTS)
1. Bill of Entry No. and date
2. Customs Station of import
3. Details of Bond
4. Details
of insurance
5. Description of goods
6. Invoice No. and date
7. Quantity with UQC
8. Assessable Value
Duty
Assessed
9. BCD
10. IGST
11. Comp. cess
12. Registration
No. of means of transport
13. Onetime–Lock no.
14. Date and time of receipt at the warehouse
RECEIPTS
(DTA)
15. GST
Invoice No. and date
16. Description of goods
17. Quantity with UQC
18. Value
Tax
paid
19. GST
20. Comp. Cess
21. E-way bill number (if applicable)
22. Date and time of receipt at the warehouse
PROCESSING
Goods
issued for manufacturing or other operations
23. Date
of issue
24.
Description of goods
25.
Quantity with UQC
26.
Value
Removal
for job-work
27.
Date and time of removal
28.
Description of goods
29.
Quantity with UQC
30.
Value
31.
Delivery Challan No.
Details of Job worker
32. Name & address
33.
GSTIN (if applicable)
Returns
to unit after job – work
34. Date
and time of return
35.
Description of goods
36.
Quantity with UQC
37.
value
38.
Delivery Challan No.
RESULTANT
PRODUCTS (CLEARANCE FOR EXPORT)
Resultant
products exported
39. Date
and time of removal
40. Shipping Bill No. and date
41.
GST Invoice No. and date
42.
Description of goods
43.
Quantity with UQC
44.
Assessable Value
45.
Export duty
Tax paid (if applicable)
46. IGST
47. Comp. cess
Quantity
of warehoused goods contained in so much of the resultant products exported
48. Description of goods
49.
Quantity with UQC
50.
Assessable Value
Duty involved
51. BCD
52. IGST
53. Comp. cess
RESULTANT
PRODUCTS (CLEARANCE FOR HOME CONSUMPTION)
Resultant
products cleared for home consumption
54. Date
and time of removal
55.
GST Invoice No. and date
56.
Description of goods
57.
Quantity with UQC
58.
Value
Tax paid
59. IGST
60. Comp. cess
Warehoused
goods contained in so much of the resultant products cleared for home
consumption
61. Bill
of Entry No. and date
62.
Description of goods
63.
Quantity with UQC
64.
Assessable Value
Duty paid
65. BCD
66. IGST
67. Comp. cess
IMPORTED
GOODS CLEARED AS SUCH
Imported
goods cleared as such for home consumption
68.
Bill of entry No. and date
69.
Description of goods
70.
Quantity with UQC
71.
Assessable value
Duty paid
72. BCD
73. IGST
74. Comp. cess
Imported
goods exported as such
75. Shipping Bill No. and date
76.
Description of goods
77.
Quantity with UQC
78.
Assessable Value
Duty involved
79. BCD
80. IGST
81. Comp. cess
TREATMENT
OF WASTE OR REFUSE ARISING OUT OF MANUFACTURE OR OTHER OPERATIONS WHERE THE
RESULTANT PRODUCT IS EXPORTED
Quantity
of waste or refuse destroyed
82.
Description of goods
83.
Quantity with UQC
84.
Assessable value
Duty involved
85. BCD
86. IGST
87. Comp. cess
Duty
paid on waste or refuse
88.
Description of goods
89.
Quantity with UQC
90.
value
Details of Duty paid
91.
Challan no.
92.
BCD
93.
IGST
94.
Comp. cess
Duty
to be remitted on the quantity of warehoused goods contained in so much of the
waste or refuse (destroyed or cleared as such)
95. Description
of goods
96.
Quantity with UQC
97.
Assessable value
Duty involved
98. BCD
99. IGST
100. Comp. cess
TREATMENT
OF WASTE OR REFUSE ARISING OUT OF MANUFACTURE OR OTHER OPERATIONS WHEN THE
RESULTANT PRODUCT IS CLEARED FOR HOME CONSUMPTION
Duty
paid on warehoused goods contained in so much of the waste or refuse
101.
Bill of Entry No. and date
102.
Description of goods
103.
Quantity with UQC
104.
Assessable Value
Duty paid
105.
BCD
106.
IGST
107.
Comp. cess
108.
REMARKS (if any)
Annexure-C
General Bond
(To
be executed under Section 59 of the Customs Act, 1962 and MOOWR 2019 by a unit operating
under section 65 of the Customs Act1962)
KNOW
ALL MEN BY THESE PRESENTS THAT we
M/s _____________ having our office located at ____________and holding Import
–Export Code No. ____________, hereinafter referred to as the “importer”,
(which expression shall include our successors, heirs, executors,
administrators and legal representatives) hereby jointly and severally bind
ourselves to the President of India hereinafter referred to as the “President”
(which expression shall include his successors and assigns) in the sum of Rs. _________ (please fill amount in words) to be paid to
the President, for which payment well and truly to be made, we bind ourselves,
our successors, heirs, executors, administrators and legal representatives
firmly by these presents.
Sealed
with our seal(s) this _____ day of ______ 20 _____.
WHEREAS
the Principal Commissioner or
Commissioner of Customs, has decided to grant license to operate a warehouse
under Section 58 of the Customs Act;
AND
WHEREAS the Principal
Commissioner or Commissioner of Customs, has decided to permit carrying out
manufacture and other operations in the warehouse under Section 65 of the
Customs Act;
AND
WHEREAS the Assistant/
Deputy Commissioner of Customs has given permission to enter into a General Bond
for the purpose of sub-section (2) of Section 59 of the Customs Act, in respect
of warehousing of goods to be imported by us during the period from _______to
______ (both days inclusive).
NOW
THE CONDITIONS of the
above written bond is such that, if we:
(1)
comply with all the provisions of the Customs Act,
1962, Central Goods and Services Tax Act, 2017 or Integrated Goods and Services
Tax Act, 2017 or Goods and Services Tax (Compensation to States) Act, 2017 and
the rules and regulations made thereunder in respect of such goods;
(2)
pay in the event of our failure to discharge our
obligation, the full amount of duty chargeable on account of such goods
together with their interest, fine and penalties payable under section 72 of
the Customs Act, 1962 in respect of such goods;
(3)
pay all penalties and fines incurred for contravention of the provisions of the
Customs Act, 1962, Central Goods and Services Tax Act, 2017 or Integrated Goods
and Services Tax Act, 2017 or Goods and Services Tax (Compensation to States)
Act, 2017 and the rules or regulations made thereunder, in respect of such
goods;
Then
the above written bond shall be void and of no effect; otherwise the same shall
remain in full force and virtue.
IT
IS HEREBY AGREED AND DECLARED that:
(1)
the Bond shall continue in full force notwithstanding
the transfer of goods to any other premises for job work;
(2)
the President through the Deputy/Assistant Commissioner of Customs or any other
officer may recover any amount due under this Bond in the manner laid down
under sub-section (1) of section 142 of Customs Act, 1962, without prejudice to
any other mode of recovery.
IN
THE WITNESS WHEREOF, the
importer has herein, set and subscribed his hands and seals the day, month and
year first above written.
SIGNED
AND DELIVERED by or
on behalf of the importer at __________ (place) in the presence of:
(Signature(s)
of the importer/authorised signatory)
Witness:
Name
and Signature: Address: Occupation:
1.
2.
Accepted
by me this ____ day of ___ 20 _____, for and on behalf of the President of
India.
(Assistant/Deputy
Commissioner)
Signature
and date:
Name:
Schedule
to the General Bond to be executed by the importer under sub-section (2) of
Section 59 of the Customs Act, 1962 for the purpose of warehousing of goods to
be imported by them.
Bill (Warehousing/ Home consumption/ Export) No.
and date |
Duty assessed on the goods |
Bond value to be debited or credited (Thrice the
amount of duty) |
Debit |
Credit |
Balance of bond value |
Remarks |
Signature of the officer along with full name and
designation |
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |