New Customs Scheme for Manufacturing Sector

 The Regulations enable an Authorized Importer to clear the imported goods directly from port to its manufacturing unit (‘Authorised Premises’) and file Bill of Entry for home consumption thereof from its Authorised Premises.

 

Brief of the scheme

 

·            For availing the facility, following conditions must be met:

 

ü   Importer must be having AEO Tier II or Tier III Accreditation;

 

ü   Store imported goods in a demarcated area bonded under Section 58 or 58A;

 

ü   Store imported goods in a demarcated area within an existing MOOWR warehouse; and

 

ü   Resultant goods should fall under CTH 8517 to 8548

 

·            To avail the facility, an application under Section 58 or 58A (as applicable) shall be made to jurisdictional Commissioner of Customs. The intent to avail the facility must be declared at the time of filing Bill of Entry under Section 46.

 

·            The Regulations also provides for movement of goods from port to the authorised premises.

 

·            The Regulation also provides for maintenance of records and accounts w.r.t. receipt, handling and removal of goods.

 

·            The scheme is a wonderful spin-off of exiting MOOWR and private bonded warehouse scheme.

 

·            Proving facility of clearance from importer’s manufacturing unit seems a game changes in ease of doing business from customs standpoint.

 

·            Notable that, currently, the scheme is announced for all imported goods whose finished goods falls under CTH 8517 to 8548. Thus, where finished products are not falling under said HSNs, the scheme is not available.