Do you need custom bonded warehouse services if you are an importer? Yes, our custom bonded warehousing services are one of our company’s strong points. Our location near ICDs and airports allows us to offer lower costs to importers, since we serve across the country. The company we represent is one of the leading customs clearing agents in India.
So, the staff is fully up-to-date with customs procedures and has the best knowledge of how to handle shipments of customs-bonded warehousing under section 59 of 1962. Since we are custom house agents, we can provide you with better service for de-bonding and ex-bonding the cargo. Besides, our company specializes in international and domestic logistics, and we serve imports and exports on land, sea, and air.
In nutshell, our companies offer full-service solutions, including freight booking, customs clearance, bonded warehousing, workforce, and transportation.
Custom Bonded Warehouse Under Section 59 of Act 1962 For more than two decades, we have been providing services in connection with Custom Bonded Warehouse under Section 59 of the customs act 1962. Our bonded warehouse services are offered through our custom clearing department. We wanted to give you a brief update on bond warehousing in India.
The importer who does not wish to pay duty at the time of importation. Then has the option of filing a bill of entry under customs bond for deposit of the goods into custom bonded warehousing under section 59 of the Customs Act of 1962. It is permissible for the importer to get customs clearance on part of the consignment under this provision. We have the expertise to handle cases related to customs bonded warehouses in an intelligent manner.
In case more information is needed, please call +91-9717360020 or send an email to cargodeal@falconfreight.com.
In accordance with section 69 of the Customs Act 1962, do you wish to re-export the cargo through a customs bonded warehouse? Of course, we provide re-exports services through custom bonded warehousing, which we consider one of our key competencies. Because we serve the entire country. Our company is among the top customs clearing agents in India.
In this way, our staff members know customs procedures and, under section 69 of customs act 1962, has the most information on shipments of re-exports against the bonded warehouses. Finally, we can say our team is very expert to execute the import bond as well as export bond with the customs in the case of re-exports. Especially we have a special arrangement of night stuffing the cargo in the case of re-export.
This is a warehouse that is authorized by the Indian customs to operate the warehousing under 58 and 59 of act 1962. The act permits the handling, storage, or assembly of dutiable goods without being subject to duty. It may be managed by the state or by a private company. Using this concept of “bonded warehousing,” importers would store cargo and release part of the cargo at a later point, thereby deferring duty payments to Customs and also releasing the international (ISO) container in which the cargo was stored.
While the goods remain in the bonded warehouse, they may be cleaned, sorted, repackaged, or otherwise changed by processes that do not amount to manufacturing, under the supervision of the customs authority. In the wake of warehousing, the goods can be either exported to another bond (EOU, etc) without paying duty or consumed at no duty with payment of the appropriate rate for the goods in their renewed condition at the time of withdrawal.
Bonded warehousing offers importers a triple advantage. On one hand, it allows deferral of the payment of duties, and at the same time, it allows the shipping container to be returned to the yard, which would otherwise incur detention charges. Likewise, it allows the importer to store cargo in a relatively cheaper warehouse than to hold onto an ISO container lying at the port, which includes rental of both the container and the port / CFS.
Process
Step-by-Step Procedure
For more information you can reach out to us at:
+91-9717360020
or email us:
cargodeal@falconfreight.com
Filing of ex-bond bill of entry for bonding the goods in to the warehousing
Filing the bill of entry of ex-bond for customs bonded warehousing
Filing the bill of entry for clearance the goods from custom bonded warehouse.
A warehoused importer can clear the goods for domestic consumption by filing an ex-bond Bill of Entry and after payment of duties etc. in terms of section 68 of the Customs Act.
No. You can re-export warehoused goods without any processing under Section 69 of the Customs Act, 1962. The warehoused goods can also be cleared in DTA without any processing under Section 68 of the Customs Act, 1962. These legal provisions explain the conditions for such re-export or DTA clearances.
Duty on DTA clearance of goods by SEZ units shall be imposed under the provisions of section 12 of the Customs Act, 1962 and Customs Tariff Act, as in the case of physical importation of goods. … Special Economic Zones will be considered foreign territory for the purposes of duties and taxes under the new dispensation.
Is it necessary to process goods stored in a customs bonded warehouse for value addition before removing them for re-export or for local consumption?
The answer is no. You can re-export the warehoused goods under Section 69 of the Customs Act, 1962 without any processing
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Year of Establishment : 1996
Business Type: Import-Export Trade Consultant
Estimated Yr Sales (USD): 2 – 5 M
Number of Employees : 80-100
mail at: cargodeal@falconfreight.com
Call us at : +91-9717360020
219, Admin. Building, Inland Container Depot, Tughlakabad
New Delhi 44, India.
Branches/Services providing areas: : Delhi, Mundra, Mumbai, Chennai, Kolkata, Hazira, Ludhiana, Delhi Airport, Panipat – Click for more