HSC Commerce 12th Board ExamMaharashtra State Board
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Bonded Warehouse and Duty Paid Warehouse. - HSC Commerce 12th Board Exam - Organisation of Commerce and Management

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Question

Bonded warehouse and Duty paid warehouse.

Solution

Sr.

No.

Basis of Difference

Bonded warehouse

Duty paid Warehouse

 

1.

 

Meaning

Bonded warehouse is the warehouse where imported goods on which duty is not paid are stored.

Duty paid warehouse is the warehouse where imported goods on which duty is already paid are stored.

 

2.

 

Location

They are located within the dock area.

They are located in a port-town outside the dock area.

 

3.

 

Markets

The imported goods stored here are mostly re-exported.

The imported goods stored here are mostly for the domestic markets.

 

4.

 

supervision

The customs authority closely supervises the working of these warehouses.

These warehouses are not supervised by the customs authority. They are supervised by port authority.

 

5.

 

 

Delivery

Delivery of goods is done after payment of import duty. In case of re-export, the import duty need not be paid, only rent and service charges need to be paid.

Delivery of goods can be obtained after payment of the rent charges of the warehouse.

 

6.

 

Purpose

Main purpose would be either the importer needs to re-export the goods or the importer may not be in a position to pay import duty.

Main purpose would be that the importer does not have suitable warehousing facility. Also, he may not require immediate delivery of goods.

 

7.

ownership

Such warehouses may be owned by private or dock authorities.

Such warehouses are owned by public authorities.

  Is there an error in this question or solution?

APPEARS IN

 2014-2015 (March) (with solutions)
Question 2.2 | 5.00 marks

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Solution Bonded Warehouse and Duty Paid Warehouse. Concept: Concept of Warehousing.
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