Repealed or not in force · As amended up to 2026-08
VI. And it is hereby enacted, that upon Goods Warehoused under the provisions of this Act, when the Import Duty chargeable shall exceed the sum of one hundred Rupees, the Importer or Consignee shall be allowed to execute a Bond for the amount of duty chargeable in the Form hereunto annexed marked B; and when such Bond shall have been executed, the Goods shall be allowed to remain in Warehouse for a period not exceeding fifteen months, without being liable to the demand of Import Duty thereon. And the Bond to be taken under this Section, shall be for twice the amount of Import Duty assessed on the Goods: and shall stipulate for interest to be payable from the date of the demand of any sum due on account of the Goods at such rate not exceeding six per cent., as shall be fixed by the Board or other controlling authority of Customs: and the Party executing the same, shall be bound thereby for the payment of all Duties and Charges that shall be claimable on account of the Goods, and of any penalties that may be incurred for violation of the Custom Laws in respect to the same.
Government of Presi- dencies to declare Ware- housing Ports.
Importers may then Warehouse.
Making application in form A, annexed. of Goods first to be assess- ed for Customs Duty. Warehouse-keeper to be answerable for weight or guage of the Custom House, allowing for wastage.
Misdescription of Tale Goods or Packages to in- jury of revenue punishable by fine of ten times the loss.
Error of overstatement may be rectified before, not after entry into Warehouse.
Packages to be marked and numbered before reception into Warehouse.
When the Duty exceeds 100 Rs. Bond may be executed for it in Form B.
And Goods may then remain in Warehouse for fifteen months without demand of Duty.
Bond to be for twice the Duty and to bear interest from the date of demand.
The Obligee to be bound for all duties and charges claimable on the Goods and for all penalties.
Source: India Code