5 Questions
What type of goods require full insurance coverage when deposited in a warehouse?
Non-sensitive goods
Under what conditions can a suitable bank guarantee be obtained for a licensee of a private bonded warehouse?
If the concerned Customs officer is not satisfied with a transaction
When can the officer cancel or suspend the license of a private bonded warehouse?
If the licensee contravenes any provisions of the Customs Act
What is the minimum amount of solvency required for applicants of private bonded warehouses?
Rs. 10 lacs
What is required for an importer who wants to store goods in a bonded warehouse?
An into Bond of entry
Learn about the process and criteria for appointing public warehouses under section 57 of the Customs Act, 1962. Understand the assessment of need, availability of facilities, exemptions for Export Oriented Units, and application procedures.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
