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What do you understand by ware houseing

Answer» Types of Warehouses : There are various types of warehouses :1. Private Warehouses : These are the warehouses owned by the traders or producers. In these warehouses they keep their own products and do not allow anybody else to keep their goods. Hence they are called private warehouses.2. Public Warehouses : These warehouses are owned by private companies and government agencies. These godowns are large size and used by all persons such as traders, farmers, exporters, importers and government agencies. These godowns are located in the commerical centres of big cities. Their main objective is to make earning by providing storing facilities.Once the goods are stored in the godown, warehouse receipt is issued to the owner of goods. After making the payment of godown charges goods are returned.3. Bonded Warehouses : These are public warehouses which are licensed by the Government to accept imported goods for storage before payment of customs duty by their importers. When the importer finds that he cannot conveniently make payment of customs duty on the goods imported by him, he can request the customs authorities for storage of goods in the bonded warehouse till the customs duty is paid.4. Duty paid Warehouses : These warehouses are located near the ports but are outside the dock bonds. They are constructed by Port Trust Authorities. We have such warehouses in Mumbai. When duty is paid on imported goods the importer can take the goods away into the domestic market.


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