Question

Distinguish between.

Duty Paid Warehouse and Bonded Warehouse

Answer 1

	Duty paid Warehouses	Bonded Warehouses
Meaning:	The warehouse which provides the facility of storing the imported goods on which custom duty is paid but not yet sold is called Duty paid warehouse.	The warehouse, which is licensed by the government authority to store the imported goods till the payment of custom duty, is called Bonded warehouse.
Controlling Authority:	These warehouses are free from the supervision of customs authorities. However, they are under the control of port authority.	These warehouses are under the close supervision and control of customs authority.
Ownership:	These warehouses are owned and managed by dock (public) authorities.	These warehouses are owned and managed by the dock or private authorities.
Location:	These warehouses are located near the port and dock area.	These warehouses are situated within the dock area.
Suitability:	Goods stored in duty paid warehouses are meant and suitable mostly for the domestic market.	Goods stored in bonded warehouses are meant and suitable mostly for re-export.