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CBEC decides that Principal Commissioners / Commissioners of Customs shall require importer to furnish "solvency certificate" from scheduled bank equivalent to amount of duty involved for purpose of storing goods in private bonded warehouse; However, in case of Central / State Government / UT administration / their undertakings, such solvency certificates shall not be required; Further clarifies that there will be no need to obtain such certificate in case of EOUs / EHTP / STPI units, as conditions regarding furnishing of bank guarantee / security are specified in Chapter 6 of FTP
Circular No. 24/2016-Cus dated June 2, 2016
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