Dear Experts,
We are the OEM capital goods manufacturer. Our material is ready to shipment, but due to the Corona Virus issue the receiving customer not approved for shipment. Hence please suggest to us, is there any customs provision to keep these materials at the customs warehouse under bond and then send the same in next month. Please explain to us the proper sections to start the process with knowledge.
Manufacturer Seeks Guidance on Storing Goods Amid COVID-19 Delays; Experts Recommend Bonded Warehouses Under Customs Act Sections 57-73A An original equipment manufacturer faced shipment delays due to the COVID-19 pandemic and sought advice on storing goods in a customs warehouse. An expert clarified that the export warehousing procedure under the Central Excise Act is not available under the GST regime, suggesting contacting CBIC for guidance. Another expert advised using Customs Bonded Warehouses or Private Bonded Warehouses under the Customs Act, referencing Sections 57 to 73A and Chapter IX on Warehousing for the applicable procedures. (AI Summary)
TaxTMI 
TaxTMI 
