custom bonded warehouse

[Govind Gupta]

Dear SIr

for all shipments arriving on ports in June, can we move it to bonded warehouse and clear it in July, will the duty be BCD+CVD+SAD or BCD+IGST. Please help,

regards

Govind

[MUKUND THAKKAR]

Duty will be BCD + IGST after 01.07.2017.

[PAWAN KUMAR]

Well answered by sir, i endorse the views.

AI Summary

Import duty composition: imports cleared from bonded warehouses after GST implementation attract basic customs duty plus integrated GST. When goods are stored in a bonded warehouse before GST commencement but cleared for home consumption after GST takes effect, the applicable import duty composition is Basic Customs Duty plus Integrated Goods and Services Tax (BCD + IGST); legacy cesses and countervailing duties are not applicable to such post GST clearances.