Ex-bond shipping bill: ICES links exports to into-bond warehousing, mandates item-wise BE linkage, updates warehouse ledger. A new ex-bond shipping bill format in ICES 1.5 links the shipping bill to into-bond warehousing BE details via a required warehouse code and mandates item-wise entry of originating into-bond BE (site, number, date, invoice serial and item number). One warehouse code per shipping bill is permitted; identical goods warehoused under multiple into-bond BEs must be declared as separate line items. Upon verification the system debits exported quantities from the warehouse ledger and re-credits on cancellation or purging; amendments update the ledger. The format applies only to export of warehoused goods exported as such and excludes goods from section 65 operations; export incentives are not available.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Ex-bond shipping bill: ICES links exports to into-bond warehousing, mandates item-wise BE linkage, updates warehouse ledger.
A new ex-bond shipping bill format in ICES 1.5 links the shipping bill to into-bond warehousing BE details via a required warehouse code and mandates item-wise entry of originating into-bond BE (site, number, date, invoice serial and item number). One warehouse code per shipping bill is permitted; identical goods warehoused under multiple into-bond BEs must be declared as separate line items. Upon verification the system debits exported quantities from the warehouse ledger and re-credits on cancellation or purging; amendments update the ledger. The format applies only to export of warehoused goods exported as such and excludes goods from section 65 operations; export incentives are not available.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
