Customs warehouse bonded manufacturing for CS profession CMA final - Com...

The warehousing provisions in customs is the most important chapter due to recent thrust by Govt. of India for bonded manufacturing. Any factory owner can licence his factory as customs warehouse u/s 58 and take permission to manufacture goods u/s 65 of the customs act, 1962. Now the goods can be imported and cleared in his own factory by furnishing triple duty bond. The goods can be manufactured and then exported and import duty shall be remitted.