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
RAMESH KUMAR VERMA
(Expert)
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
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