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Warehouse
Warehouse
Public Warehouse are very important in the marketing of agricultural products. A public warehouse is also known as 'duty paid warehouse'. Such warehouses provide storage facilities to small manufacturers and traders at low costs. They provide facilities for the inspection of goods by prospective buyers.
Bonded Warehouses
These warehouses are licenced by the Government to accept imported goods for storage until the payment of customs duty. They are located near the ports. They are either operated by the Government or work under the control of customs authorities. The warehouse is required to give an undertaking or 'Bond' that it will not allow the goods to be removed without the consent of the custom authorities. The goods are held in bond and cannot be withdrawn without paying the customs duty. Such warehouses are very helpful to importers and exporters. If an importer is unable to pay customs duty immediately after the arrival of goods he can store the goods in a bonded warehouse. He can withdraw the goods in installments by paying the customs duty proportionately. Goods lying in a bonded warehouse can be packaged,graded and branded for the purpose of sale.
The warehousing of dutiable goods in a customs declared area on execution of a bond without payment of duty for a stipulated or required period is known as bonding of imported goods.
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Bill of Entry
Bill of Entry for Bond/Warehousing:
A separate form of bill of entry is used for clearance of goods for warehousing. All documents as required to be attached with a Bill of Entry for home consumption are also required to be filed with bill of entry for warehousing. The bill of entry is assessed in the same manner and duty payable is determined. However, since duty is not required to be paid at the time of warehousing of the goods, the purpose of assessing the goods at this stage is to secure the duty in case the goods do not reach the warehouse. The duty is paid at the time of ex-bond clearance of goods for which an ex-bond bill of entry is filed. The rate of duty applicable to imported goods cleared from a warehouse is the rate in-force on the date on which the goods are actually removed from the warehouse.
The importer clearing the goods for domestic consumption has to file bill of entry in four copies; original and duplicate are meant for customs, third copy for the importer and the fourth copy is meant for the bank for making remittances.
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Kochi Customs
Kochi Customs
[email protected]
Ph : 0484-2666328, 2666422, 2666778, 2666774 to 2666776
O/o The Joint Director General of Foreign Trade
5th Floor, A-Block, Kendriya Bhawan,
Kakkanad, Cochin – 682 037
TeleFax No. 0484-2427069
EPABX No. 0484-2426378/2427397
e-mail addres: [email protected]
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Thanks for sharing....
many people don't know their legal rights.
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Consumer Rights
The Consumer Protection Act, 1986
The Act (applicable in India) ensures consumer rights - right to know, right to safety, right to be heard, right to choose etc. We are all from one time to another is a consumer. A person who avails service/goods on payment of money is a consumer. If one doesn't get the assured quality/quantity, he may approach the District level Consumer redressal forums to get compensation.
Legal Metrology (Packaged Commodities) Rules, 2011 ensures the consumer rights by enforcing mandatory labeling on packages.
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