Re-Export Custom Bonded Warehouse – Section 69 of Act 1962
Re-Export Custom Bonded Warehouse - Section 69 of Act 1962
Our Services - Re-exporting Through Bonded Warehouse Under Section 69 Customs Act, 1962
Are you interested in re-exporting the cargo through a customs bonded warehouse in accordance with Section 69 of the Customs Act 1962? Under the provision, we provide re-exporting services through custom bonded warehousing, which we consider to be one of our key competencies. We provide cargo re-export services to customers throughout the country through our bonded warehouse services. Our company is one of the most prominent customs clearing agents in India. Therefore, our staff members are familiar with customs procedures and provide the most information on shipments of re-exports against the bonded warehouses, as per section 69 of the Customs Act 1962. Finally, we are proud to be able to say that our team is very expert when it comes to executing import bonds as well as export bonds with the customs for re-exports under the custom bonded warehousing section 69 of customs act 1962. Especially in the case of re-export, we have a special arrangement for packing the cargo at night.
In case more information is needed, please call +91-9717360020 or send an email to email@example.com.
Benefits of Re- Export The Goods Under Custom Bonded Warehousing
- Having the flexibility of importing the cargo and re-exporting it after completing the custom bonded warehousing formalities under section 69 of the Customs Act 1962.
- Customs duties can be avoided by importers who can re-export their cargo for a profit without paying customs duties.
- Eliminate the shipping line and port fees. In order to avoid ground rent and shipping line detention charges, cargo is de-stuffed from shipping line containers into the bonded warehouse.
- Among the additional services at a custom bond warehouse is the ability to label, pack, kit, bar-code, palletize, and other authorized services.
- Low storage cost – each square foot is charged a weekly fee by the custodian.
- If you re-export your cargo from a customs bonded warehouse, you can store the imports and then export directly from the custom export section. By doing so, you can save on transportation cost.
- Fast export process benefits you can avail.
FAQ Re-export The Goods Under Custom Bonded Warehouse Section 69 of Act 1962
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
- The re-export process realizes the entire foreign exchange spent in importation in hard currency (when the import payment is made in that currency); and
- The import in the first instance was not unauthorised or in contravention of the Import-Export Policy.