Home consumenption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2013
Dear All,
what is meaning of home consumption for the purpose of export
what is meaning of home consumption for the purpose of export
15 March 2013
Noted that White Bill of Entry is for home consumption. Imported goods are cleared on payment of customs duty.
on the other hand Yellow Bill of Entry is for warehousing. It is also termed as ‘into bond Bill of Entry’ as bond is executed. Duty is not paid and imported goods are transferred to warehouse where these are stored. Green Bill of Entry is for clearance from warehouse on payment of customs duty. It is for ex-bond clearance.
in view of above, Home consumption Bill of entry in white colour: This has to be filed when the importer wants to clear the goods on payment of duty and remove them to his premises immediately. (Section 46 of the Custom Act 1962).
further info:
https://www.caclubindia.com/experts/bill-of-entry-for-home-consumption-423290.asp#.UUL4azf7crc
https://www.rbi.org.in/scripts/ECMUserParaDetail.aspx?Id=97&CatID=14
on the other hand Yellow Bill of Entry is for warehousing. It is also termed as ‘into bond Bill of Entry’ as bond is executed. Duty is not paid and imported goods are transferred to warehouse where these are stored. Green Bill of Entry is for clearance from warehouse on payment of customs duty. It is for ex-bond clearance.
in view of above, Home consumption Bill of entry in white colour: This has to be filed when the importer wants to clear the goods on payment of duty and remove them to his premises immediately. (Section 46 of the Custom Act 1962).
further info:
https://www.caclubindia.com/experts/bill-of-entry-for-home-consumption-423290.asp#.UUL4azf7crc
https://www.rbi.org.in/scripts/ECMUserParaDetail.aspx?Id=97&CatID=14
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Suggestions required for income tax filing-software (FY 2025-26)
- Tax liability on income of freelancer
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
