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Customs Act 1962: Provisions for Warehousing Imported Goods

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Customs Act 1962: Provisions for Warehousing Imported Goods

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Questions and Answers

Where are some imported goods warehoused for supply to EOU/EHTP/STP/SEZ units?

Factories of production

International airports (correct)

Duty-free shops

Private bonded warehouses

What are some reasons why an importer may not want immediate clearance of imported goods?

Surplus funds and low demand in the market

Lack of transportation and damaged goods

High market price and non-saleability

Market price, saleability, non-requirement, paucity of funds (correct)

Under what circumstances do goods imported for sale in duty-free shops at international airports get warehoused?

Immediately after landing

Only when demanded by travelers

When the market prices are high

Before being sold to international travelers (correct)

When can imported goods be removed to a warehouse without payment of duty?

<p>Before landing (B)</p> Signup and view all the answers

Where can public or private bonded warehouses be operated according to the Customs Act, 1962?

<p>At designated warehousing stations (C)</p> Signup and view all the answers

Customs Act 1962: Provisions for Warehousing Imported Goods

Choose a study mode

Podcast

Questions and Answers

Where are some imported goods warehoused for supply to EOU/EHTP/STP/SEZ units?

What are some reasons why an importer may not want immediate clearance of imported goods?

Under what circumstances do goods imported for sale in duty-free shops at international airports get warehoused?

When can imported goods be removed to a warehouse without payment of duty?

Where can public or private bonded warehouses be operated according to the Customs Act, 1962?

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