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Issue ID: 107528
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How to sell goods on HSS from Custom Bounded warehouse

Date 31 Oct 2014
Replies 1 Reply
Views 5144 Views
Asked by
Sale of warehoused goods not treated as high-seas sales, affecting international trade characterisation and tax treatment.
Movement of imported goods to a customs bonded warehouse after filing the appropriate Bill of Entry is generally treated as having crossed the customs frontiers unless the warehouse is within a customs port/airport; sales of goods after warehousing are not considered to be made in the course of international trade and therefore cannot be treated as high seas sales for tax characterisation. (AI Summary)

Is it possible that on arrival of the cargo we can file the In bound bill of entry and move the cargo to custom bonded ware house and later sell this cargo on HSS to various customers?

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