DHAKA, Sept. 10 (Xinhua) -- Bangladesh's National Board of Revenue (NBR) has issued new instructions to ease complexities in clearing goods imported under bonded warehouse facilities.
In a press release issued on Tuesday, NBR said the bonded warehouse licensees often experience delays in getting their goods cleared by customs when the HS Code or product description on their license does not match what customs officials find during their inspection.
As such delays disrupt the timely shipment of export orders, the NBR said that if the first four digits of the HS Code from customs match those in the bonded license, goods can be released quickly if a promise is made to update the HS Code or description.
Moreover, if the customs authorities assign a different HS Code altogether, bonded warehouse license holders may update the revised HS Code in their entitlement through the Customs Bond Management System and complete the clearance process within a maximum of two days.
NBR expressed the hope that this would make export operations of bonded facilities faster, smoother, and more cost-effective. ■
