Question

Duty paid warehouses help to provide storage for perishable commodities. (State with reason whether the given statement is true or false)

Answer 1

Bonded warehouse is the place where all the imported goods are stored till the custom duties for those items are paid.

So it is also called duty paid warehouse and it is generally run by the government. So the given statement is absolutely true.

A custom bond is signed between the real owners of those goods and the government, which cease to exist once the stored goods are taken out of the warehouse for delivering to the owner or for destroying by the Custom authority.