BONDED WAREHOUSES

These warehouses are licenced by the Government to accept imported goods for storage until the payment of customs duty. They are located near the ports. They are either operated by the Government or work under the control of customs authorities. The warehouse is required to give an undertaking or 'Bond' that it will not allow the goods to be removed without the consent of the custom authorities. The goods are held in bond and cannot be withdrawn without paying the customs duty. Such warehouses are very helpful to importers and exporters. If an importer is unable to pay customs duty immediately after the arrival of goods he can store the goods in a bonded warehouse. He can withdraw the goods in installments by paying the customs duty proportionately. Goods lying in a bonded warehouse can be packaged,graded and branded for the purpose of sale. Central Warehousing Corporation operates 75 Custom Bonded Warehouses with a total operated capacity of nearly 0.5 million Mts.