Day 7 – Customs Warehousing (Public & Private Bonded Warehouses) — A Practitioners’ Black-Letter Guide
Day-7 of 30-Day Series on the Customs Act 1962 and FTP 2023 by CA Navjot Singh.
Tag: bonded warehouse
Circular No. 19/2024- Customs dated 30.09.2024
CBIC issued Circular no. 19/2024-Customs dated 30.09.2024 on Digitization of Customs Bonded Warehouse procedures relating to obtaining Warehouse License, Bond to Bond Movement of warehoused goods, and uploading of Monthly Returns.
Imported Goods stored in 3P FTWZ being sold and moved to Bonded Warehouse on ‘as is where is’ basis under MOOWR scheme are not liable to GST
The Tamil Nadu AAR, in the matter of M/s. Sunwoda Electronic India Private Limited has held that sale of goods from third-party free trade warehousing zone (“3P FTWZ”) on ‘as is where is’ basis to bonded warehouse under Manufacturing and Other Operations in Warehouse Regulations (“MOOWR”) are not liable to GST as the same is covered under Clause 8(a) of Schedule III of the CGST Act, which reads as “Supply of warehoused goods to any person before clearance for home consumption”.