Page 235 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

Q-918: The meaning of Free Trade Warehousing Zone (FTWZ)
(i) Free Trade Warehousing Zone is a Special Economic Zone wherein mainly trading
and warehousing and other activities related thereto are carried on.
(ii) FTWZ is a deemed foreign territory within the geography of India for the purpose of
tariff and trade.
Which one of the above statement is correct?
(i) a only
(ii) b only
(iii) both a and b
(iv) None of the above
A-918: iii - both a and b
Q-919: The period of the license is granted under the Special Bonded Warehouse will remain valid
(i) One year from the date of issue
(ii) Two years from the date of issue
(iii) Five years from the date of issue
(iv) Until and unless it is cancelled

A-919: iv - Until and unless it is cancelled
Q-920: The chapter of the warehousing under the Customs Act, 1962
(i) Chapter VIII of the Customs Act, 1962
(ii) Chapter IX of the Customs Act, 1962
(iii) Chapter X of the Customs Act, 1962
(iv) Chapter XI of the Customs Act, 1962
A-920: ii - Chapter IX of the Customs Act, 1962
Q-921: The period of one year may be extended on Private Bonded Warehouse by
(i) Superintendent of Customs
(ii) Inspector of Customs
(iii) Proper officer of Customs
(iv) None of the above
A-921: iii - Proper officer of Customs
Q-922: The section of Customs Act, 1962 on facility of storing goods in warehouses pending
clearance in case where goods cannot be cleared within a reasonable time
(i) 49
(ii) 50
(iii) 51
(iv) 52
A-922: i - 49

Q-923: Explain the instructions on applying for a license for a warehouse under Section 57 or 58 or
Section 58A
A-923: The following nstructions on applying for a license for a warehouse under Section 57 or 58 or
Section 58A:
(i) The application form is for new applicants applying for a licence (excluding for
Precious Metals) under Section 57 or 58 or Section 58A of Customs Act, 1962.

230