Which of the following goods are kept in bonded warehouse?
Answer Details
Dutiable goods are the goods that are kept in a bonded warehouse. These goods are subject to customs duties and taxes, but they are not released until the duties and taxes are paid. A bonded warehouse is a secured storage facility where goods can be stored without payment of customs duties and taxes until they are either exported or released into the local market.
Dutiable goods are often stored in bonded warehouses to defer the payment of customs duties and taxes until they are needed, which can help businesses reduce their cash flow needs. They can also be stored in bonded warehouses if they are being re-exported, as they can be stored without payment of duties and taxes until they are shipped out of the country.
In summary, bonded warehouses are used to store dutiable goods until they are either released into the local market or exported out of the country. By storing these goods in a bonded warehouse, businesses can defer payment of customs duties and taxes until they are needed, which can help them manage their cash flow more effectively.