Enumerate the circumstances under which goods are considered to have been removed improperly from a warehouse under the Customs Act, 1962.

CA Final · Indirect Tax Laws · MTP · May 2024
Enumerate the circumstances under which goods are considered to have been removed improperly from a warehouse under the Customs Act, 1962.

Suggested Answer and Working Notes:

(a) In any of the following circumstances the goods shall be considered to have been removed improperly from a warehouse- (a) where any warehoused goods are removed from a warehouse in contravention of section 71 of the Customs Act, 1962; (b) where any warehoused goods have not been removed from a warehouse at the expiration of the period during which such goods are permitted to remain in a warehouse; (c) where any goods in respect of which a bond has been executed and which have not been cleared for home consumption or export are not duly accounted for to the satisfaction of the proper officer.

Topics: Customs: Warehousing

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