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About Customs Bonded Warehouse:
Customs warehousing is a procedure under which imported goods are stored under customs control in designated place without payment of import duties. The provisions related to warehousing are under Chapter IX of the Customs Act,1962. Apart from the specific provisions, certain regulations like Manufacture and Other Operations in Warehouse Regulations, 2019 (MOOWR 2019), Warehouse (Custody and Handling of Goods) Regulations, 2016 and the Warehoused Goods (Removal) Regulations, 2016, have also been framed.
Warehouses are facilities setup to avail the benefit of customs duty deferment. Imported goods can be stored in a warehouse without payment of duty and the applicable duty is required to be paid only at the stage of their clearance from the warehouse.
There are three types of warehousing envisaged under Chapter IX of the Customs Act,1962;
- Public warehouses
- Private warehouses
- Special warehouses
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