WAREHOUSE A warehouse can be defined as an area where dutiable goods can be store for a period of time as specified in warehousing rules from time to time by the Board.
CONCEPT OF WAREHOUSE UNDER CUSTOMS ACT TYPE OF BONDED WAREHOUSES: MANUFACTURING BONDS. PUBLIC / PRIVATE BONDS. DIPLOMATIC BONDS / DUTY FREE SHOPS.
PRE-REQUSITE FOR OPERATING BONDED WAREHOUSE The approval / application for any kind of bonded warehouses covered under the Act is allowed in section 12 -13 of the Customs Act. Pre-requisite are : 1. Application to the collector of customs in the prescribed format. 2. Sight planned of the proposed warehouse indicating details of the locality and total area. 3. Ownership / lease rental agreement of the property where the warehouse has to be established, worthiness of the building. 4. NTN / STN registration of the applicant. 5. Bank certificate for sound financial position 6. Memorandum and Articles of association, where the applicant is registerd under companies ordinance 1984 7. A general bond in the prescribed format binding themselves that they shall observe all the provisions of the act and that they should be liable to pay, all dues, penalty at the discretion of the appropriate officer.
8. Permission of the owner to use the premises as a warehouse. 9. Installation of firefighting equipment 10. Comprehensive insurance policy, covering fire, burglary, riot, flood, aircraft damage , earthquake, explosion. 11. Post dated check along with indemnity bond covering dutiable taxes and penalties of the value of the goods to be warehoused. 12. License for the warehouse is valid for three years, renewable for a further period of 3 years by the Collector of Customs.
Reason for Public / Private / Diplomatic Warehouse. 1. 2. 3. 4. 5. 6. To accommodate the trader and the manufacturer to warehouse the goods in bulk. To accommodate the trader to warehouse goods and exbond the same in installment. A major source for reducing the burden of tax payer. Greater facilitation to import in bulk. To avail storage facility by the importer lacking storage facility. The diplomatic bonded warehouses have been established to facilitate the diplomatic corps to enable them to get the item of daily use from these warehouses free of duty and taxes.
Manufacturing Bond The industrial manufacturers are entitled to have a manufacturing bond at their manufacturing premises. The manufacturer must have approved their quota of input goods which is to be consumed within the period as specified under the rules. The input goods comprises of : 1. Raw Material 2. Sub component 3. Component 4. Sub Assembly 5. Assembly 6. Accessories etc.
Warehousing Period for Different Type of Goods. Perishable goods for three months. Non-perishable goods for six months (Section 98). Extendable by the Collector not more than one month in case of Perishable and three months in case of Non-Perishable. FBR for unlimited time, however, the fitness for consumption of perishable goods is to be considered.
Transfer of Goods from one warehouse to another in the same station or any other warehousing station. The owner of the goods including the manufacturer under section 100 may apply to the collector of customs for shifting of goods from one warehouse to another. The request must be made within the validity period of warehousing as discussed in the earlier slide. Subject to any security or condition as directed by the Collector. In case of cancellation of warehousing license, the owner of the goods may removed the goods to another warehouse within ten days or time fix by the appropriate officer or may clear them either for export or home consumption after paying the duties / taxes involved
IN-BONDING / EX-BONDING OF THE WAREHOUSED GOODS The importer / clearing agent may file in to bond GD for the clearance / warehousing of the goods. At the time of in-bonding, the clearing agent must be careful about the proper application of HS code / value / importability. Payable duty and taxes on the in-to-bond GD must be clearly calculated. Any concessionary SRO must be clearly declared on the in-to-bond GD. Analysis certificate / lab reports if required must be mentioned on the into-bond GD. Ex-bond GD must correspond to the relevant mandatory field as per in-to -bond GD i. e. invoice value, unit value, total quantity, quantity of the goods ex-bounded, HS code. In case of change of HS code the case must be reported to the concerned appropriate officer. Rate of exchange and payable duty taxes must be the one prevailing on the date of the submission of ex-bond GD, which shall be cleared within seven days of its submission, otherwise any change in the rate of exchange or duties / taxes is to be applied which is prevailing on the final date of submission of ex-bond GD.
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