Subject : Warehousing – Renewal of private bonded warehouse licence – Instructions reg.
I am directed to refer to the correspondence resting with Board’s instructions F.No. 473/ 349/ 87 -CUS- VII dated 20.7.89 and F.No. 473/21/90-CUS- VII dated 22.11.90 on the above subject and to say that the Board is considering the grant of private bonded warehouse licence under section 58 of the customs Act, 1962 on merits of each case in line with the above instructions. It is however, observed that once such facility is granted the requests for extension of the facility for further period are also being referred to the Board for a decision.
2. The Board has examined the issue and is of the view that once a facility of private bonded warehouse licence under section 58 of the Customs Act, 1962 has been granted, its subsequent renewal, if required, need not be referred to the Board for a decision. Such subsequent renewals may be considered by the Collectors. This would expedite the decisions on the party’s request and reduce hardship to the trade