Bond Register and Warehouse Register
This query is : Resolved
16 December 2008
Dear All
If any one knows the difference between a Bond Register and Warehouse Register
Please Share with me....
Thanks In Advance
BINUMS
If any one knows the difference between a Bond Register and Warehouse Register
Please Share with me....
Thanks In Advance
BINUMS
01 February 2009
The terms is not strickly defined legal terms.
When you give any bond, you maintain a simple account of the utilisation of the bond. For example you give a bond for export of goods without payment of duty- you maintain a simple account as how much goods you have exported against the bond, how much of those goods have already been exported,in how many cases proof of export has been filed, what is your balance bond amount etc. A register in which such information is maintained is called bond register.
On the other hand when some goods are stored in a warehouse, like custom bonded warehouse or excise warehouse for export etc., a simple account is maintained regarding receipt of goods in a warehouse, clearance of goods etc. This account is called warehouse register.
When you give any bond, you maintain a simple account of the utilisation of the bond. For example you give a bond for export of goods without payment of duty- you maintain a simple account as how much goods you have exported against the bond, how much of those goods have already been exported,in how many cases proof of export has been filed, what is your balance bond amount etc. A register in which such information is maintained is called bond register.
On the other hand when some goods are stored in a warehouse, like custom bonded warehouse or excise warehouse for export etc., a simple account is maintained regarding receipt of goods in a warehouse, clearance of goods etc. This account is called warehouse register.
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