The Central Board of Indirect Taxes and Customs (CBIC) on June 25, 2024, notified regarding the MOOWR - Transfer of Goods from one Section 65 Unit to another.
The following has been stated namely: -
• It states The Manufacture and Other Operations in Warehouse Regulations (MOOWR), provides the deferred customs duty on the warehoused goods becomes payable only when the resultant goods (containing such warehouse goods) shall clear for home consumption which concomitantly entails filing the Ex-Bond Bill of Entry for the contained warehoused.
• Regulation 11 states that goods shall be received from another unit, subject to the licensee verifying the intactness of the one-time lock, reconciling the quantity of such received goods from the Form appended to the MOOWR, and complying with other requirements of the regulation.
• Regulation 13 states that the transferee shall be intimated to the bond officer on the said Form.
• It states that it is in supplement to the due process of debiting the transferee's triple-duty bond and re-crediting the supplier's triple-duty bond.
• Regulation 17 states that maintenance of digital records along with accurate and timely filing of monthly returns shall be strictly implemented.
[Notification no. - 16/2024-Customs]
