RULE 150. Excisable goods may be lodged in Customs bonded warehouse under certain conditions

-(1) Subject to such terms, conditions and limitations as the Central Board of Excise and Customs, may, from time to time, make in this behalf, excisable goods of any description may be warehoused in any Customs warehouse approved by the Commissioner for the purpose.

(2) All the powers, provisions, and penalties, contained in or imposed by these Rules, as to the warehousing, custody and delivery out of warehouse of excisable goods, and as to any deficiencies therein or allowances thereon, shall, where applicable, be observed, applied, enforced and put into execution with reference to such goods warehoused in Customs warehouses.