Central Government vide Notification No. 115/2016-Customs(N.T.), Dated: August 26, 2016 has amended the following conditions to be fulfilled by Customs Cargo Service provider for custody of imported or export goods and handling of such goods in a customs:
a) Execute a bond equal to the average amount of duty involved on the imported goods and 10% of value of export goods likely to be stored in the customs area during a period of 10 days. Earlier this period was of 30 days. (Regulation 5 sub-regulation 3). The value of bond being furnished in respect of imported/export goods has been reduced to the extent of 10 days storage from the current 30 days.
b) Execute a separate bond for an amount equal to ten percent of value of export goods with a bank guarantee for an amount equal to 10% of the value of the bond, towards the export goods transported from the customs area to any other customs area for export or transhipment, as the case may be.
Provided that the condition of furnishing of bank guarantee shall not be applicable to ports notified under the Major Ports Act, 1962 (38 of 1963) or to the Central Government or State Governments or their undertakings or to the customs cargo service provider authorised under Authorised Economic Operator Programme.”
There was no exception to this condition earlier. (Regulation 5 sub-regulation 4)
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise and Customs)
Notification No. 115/2016-Customs (N.T.)
New Delhi, dated the 26th August, 2016
G.S.R. (E).–In exercise of the powers conferred by sub-section (2) of section 141 read with section 157 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations to further amend the Handling of Cargo in Customs Areas Regulations, 2009, namely:-
1. (1) These regulations may be called the Handling of Cargo in Customs Areas (Amendment) Regulations, 2016.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Handling of Cargo in Customs Areas Regulations, 2009 (hereinafter referred to as ‘the said regulations’), in regulation 5, namely:-
a) in sub-regulation (3), for the word “thirty”, the word “ten” shall be substituted:
b) in sub-regulation (4), the following proviso shall be inserted, namely:-
“Provided that the condition of furnishing of bank guarantee shall not be applicable to ports notified under the Major Ports Act, 1962 (38 of 1963) or to the Central Government or State Governments or their undertakings or to the customs cargo service provider authorised under Authorised Economic Operator Programme.”
[F. No. 450/114/2015-Cus IV]
(Zubair Riaz)
Director (Customs)
Note: The principal regulations notified vide Notification No. 26/2009-Customs (N.T.) dated 17th March, 2009 were published in the Gazette of India, Extraordinary, Par II, Section 3, sub-section (i) vide number G.S.R 174(E) dated 17th March, 2009 and was last amended vide Notification No. 101/2012-Customs (N.T.) dated 16th November, 2012 published in the Gazette of India, Extraordinary, Part II, Section-3, sub-section (i) vide G.S.R. 831(E) dated 16th November, 2012.
