In a major boost to export oriented units and software exporters, the government has removed warehousing requirement as part of overhaul of the customs framework.
“Recognizing the potential role of these units in the Make in India initiative and as a measure of improving the ease of doing business, it has been decided to do away with the need to comply with warehousing provisions by these units,” a circular issued by the Central Board of Excise and Customs said.
A warehoused goods register shall not be required to be maintained with effect from 13th August 2016. However, in order to maintain records of receipts, storage, processing and removal of goods, imported by the units, the Board has prescribed that the units shall maintain records of imported goods, in digital form.
Supply of the goods from one unit to another shall be based upon the usual commercial documents, such as, invoice & delivery challan instead of a customs bond.
These procedures made any intra-unit movement of any good, even a server, cumbersome. This relaxation will cut down on paperwork and unnecessary hassle for exporters.