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MCQs · Q2

Q.A warehouse licensed by customs authorities to store imported goods on which import duty has not yet been paid is called a:

(a) Private Warehouse
(b) Cooperative Warehouse
(c) Bonded Warehouse
(d) Public Warehouse
Tamil Nadu DgeTextbookSubjectiveImportance★★★★★
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A Bonded Warehouse is licensed specifically by customs authorities to store imported goods before import duty has been paid on them; the importer defers duty payment until the goods are actually removed for domestic sale/use, or may re-export them without ever paying domestic duty. Private, Cooperative and Public Warehouses (opti …

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