India Streamlining Customs Bonded Warehouse Program
India’s Central Board of Indirect Taxes and Customs has “revamped and streamlined” a program to strengthen domestic manufacturing through customs bonded warehouses, the agency said in an Oct. 15 press release. The program includes a single application form for “uniformity…
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of practice” and no “geographical limitation on where such units can be set up,” the press release said. “Units” can also import goods under a customs deferment program in which the “duties are fully remitted if the processed goods are exported,” the agency said.