Here are some benefits of the MOOWR scheme:
Here are some benefits of the MOOWR scheme:
- Deferred customs duty: Manufacturers can defer payment of customs duty on imported raw materials and capital goods.
- No customs duty on exports: Manufacturers don't need to pay customs duty if the imported goods are exported.
- No time limit for storage: Manufacturers can store goods for as long as they need.
- No license renewal: Licenses don't need to be renewed.
- Single point of contact: Manufacturers have a single point of contact for approvals.
- Flexible unit location: Manufacturers can locate their units flexibly.
- No physical control by customs: Customs doesn't have physical control over the goods.
- No export obligations: Manufacturers can sell 100% of the goods manufactured in the bonded warehouse into the domestic market. However, they will still need to pay duty on imported inputs.
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