Duty Paid Warehouse and Bonded Warehouse Distinguish Between.

Duty Paid Warehouse and Bonded Warehouse

Solution: 

Duty paid Warehouses

Bonded Warehouses

Meaning:

If an importer faces any problem in the transportation of goods, after making payment of duty, then goods can be stored at a duty-paid warehouse.

Bonded warehouses are licensed by the government to accept imported goods for storage until the payment of customs duty.

Control:

All duty paid warehouses are public warehouses that are available to all importers.

These warehouses work under the control of customs authorities.

Classification:

Duty paid warehouses help the importer as proper care of goods is taken, processing of goods can be done like sorting, re-packing, etc.

The goods are held in bond and cannot be withdrawn without paying the customs duty.

Location:

These are located near the port & dock area.

These are located near the dock area and if an importer is unable or unwilling to pay customs duty immediately then he can store the goods in a bonded warehouse.

Used :

Such warehouses are more useful for the re-export of the goods.

The importer can withdraw the goods in installments by paying the customs duty proportionately.


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