Trade Dept announces five import categories for Customs warehousing

The Department of Trade under the Ministry of Commerce notified that only five import categories including 685 tariff lines (HS Code -10 Digit) and raw materials imported on a Cutting-Making and Packaging basis and other related equipment will be allowed for customs warehousing starting from 1 January 2025.
The Trade Department earlier stated that 1,100 tariff lines (HS code-10 Digit) in four import categories are allowed to be stored in customs warehouses without obtaining an import licence in advance, according to the export-import bulletin 2/2024 dated 30 May 2024. Yet, it is effective until 31 December 2024.
Only five import categories with 685 tariff lines and CMP raw materials and equipment will be given the green light to be kept in customs warehouses following rules and regulations, including pharmaceuticals (110 lines), electric vehicles as per the Standard Grade set by the National-level Leading Committee on Development of Electric Vehicles and Related Businesses and taxi, public bus, commercial vehicles and auto parts (12 lines), industrial raw materials and chemicals (539 lines) and food raw materials (24 lines) and CMP raw materials and related equipment. This will come into effect on 1 January 2025.
CMP raw materials and related equipment have been allowed for customs warehousing since 1 December 2024. Additionally, the private-use Electric Vehicle with a higher level than the standard grading of the committee is permitted for bonded warehouses by 31 January 2025. Customs Warehousing rules for taxis and other vehicles remained unchanged, the department notified. — NN/KK