114. ¹[(1) A register shall be kept of all bonds entered into for customs-duties on warehoused goods, and entry shall be made for all goods irrespective of duty paid or not in separate manner in such register of all particulars required by section 113 to be specified, or in the case of Special Bonded warehouse entry shall be made in a register to be prescribed by the Commissioner of Customs (Bond) or any other Commissioner of Customs authorised by the Board.]

(2) When such register shows that the whole of the goods covered by any bond have been cleared for home-consumption or export, or otherwise duly accounted for, and when all amounts due on account of such goods have been paid, the appropriate officer shall cancel such bond as discharged in full, and shall on demand deliver the cancelled bond to the person who executed it or who is entitled to receive it.

²[(3) Any owner of a bonded warehouse or a special bonded warehouse shall make entry of the particulars of goods purchased from local market or imported by payment of duties and taxes into the register as prescirbed by the Commissioner of Customs (Bond) or any other Commissioner of Customs authorized by the Board.]