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Showing posts from May, 2012

Import-Export Prohibition, Control, Valuation and Disposal

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If a LMW finished goods are of a class prohibited on import/export he will be allowed to carry on with the manufacturing but the finished goods when released to domestic market or exported will have to be subjected to the prohibition orders. Import or export license, whichever applicable must be obtained from the International Trade and Industry Ministry and the approval must presented to the Customs at the port/place of import/export. Control on Premises Generally, LMW are documentary controlled by the Customs. As such, customs officers will not be stationed at the licensed premises. Manufacturing process can be carried out without limitation to the time but no dutiable goods shall be brought in or taken out of the licensed premises outside the normal opening hours without due written permission from the State Customs Director where the LMW is located or based at. Valuation Dutiable value of the manufactured goods released for home consumption will be determined on the

Customs formalities on movement of dutiable goods to and from LMW warehouse

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From licensed of raw materials/components, duty free for approved manufacturing purposes in the LWW warehouse and transfer of goods to Free Zones or to another LMW warehouse, the following formalities must be complied: Movement of goods (involving passage in transit through Principal Customs Area) must be covered by Customs Form 8. This statutory form 8 must be submitted by the importer or his agent at the first port/place of import. Customs Import Declaration 1 duly completed must be submitted by the importer (licensee) to the customs station responsible for the supervision and administration of the LMW concerned (This applies only to LMW from overseas). The goods must be transported in locked van or truck approved b y the Director Genera of Customs. Security in the form of Bank Guarantee is required to safeguard against any loss of revenue of goods carried in transit. Removal of Goods for Export The licensee or his agent is required to submit Customs Form 8 duly complete