The objective of this course is to provide participants with the detailed knowledge of Licensed Manufacturing Warehouses. The course will highlight in detail the eligibility criteria, procedures, documentations and conditions related to LMWs and will guide the participants on the common mistakes/pitfalls made by LMW companies which are generally subjected to frequent Customs Audit. The course will also cover the latest amendments related to LMWs which takes effect from 01.01.2020.
HOW WILL YOU BENEFIT
Participants will be able to understand in detail:
- Concept of Licensed Manufacturing Warehouse
- Exemptions made available and other activities presently allowed in LMWs
- Conditions imposed and compliance issues
- Procedures and Documentations related to LMWs
- Common mistakes made by LMW companies and how to avoid them
WHO SHOULD ATTEND?
This course is suitable for existing LMWs and other manufacturers who desire to obtain import duty exemptions, tax consultants, finance managers and accountants.
Power Points Presentation, Discussions and Case Studies.
- CUSTOMS OBJECTIVES AND ORGANISATIONAL STRUCTURE
- MANUFACTURING COMPANY Vs LMW COMPANY
- SCOPE OF LICENSED MANUFACTURING WAREHOUSE
- APPLICATION FOR LMW LICENSE/DOCUMENTATION
- EXEMPTIONS AVAILABLE UNDER LMW
- LMW PROCEDURES AND DOCUMENTATION
- WASTE & SCRAP – APPLICATION AND DOCUMENTATION
- SUBCONTRACT/FARMING OUT
- ACCOUNTING FOR LOSSES BY FIRE FLOOD AND THEFT
- INSPECTION AND ENFORCEMENT BY CONTROLLING STATION
- OTHER ACTIVITIES ALLOWED IN LMW PREMISES
- LMW CONDITIONS AND COMPLIANCE
- LMW COMPOUNDABLE OFFENCES AND PENALTIES