Consumption Entry

Posted in Operations and Supply Chain Terms, Total Reads: 284
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Definition: Consumption Entry

A consumption entry is duty entry for the goods which have been imported from an international carrier and sent for use in the commercial market directly. There are no time or use restriction imposed on these goods. Almost 95% of the imported goods are of this category in the U.S.A. In the markets, such goods can be used for the personal use or commercial use. If the goods are first kept in any warehouse before going to the market, then formal warehouse entry is to be made on them.


Example: An exporter from Brazil exports tea to the USA and the stock goes direct to the distributor without going to any warehouse. Then a consumption entry is made for the tea stock.


Apart from Consumption entry, following entries are also used:

a) Transportation entry: When goods are in transit to a third country

b) Warehouse entry: When goods are stored in a bonded warehouse before going to the market

c) Foreign Trade Zone Entry: When goods are stored in a place licensed by the department of commerce of that country

d) Temporary in Bond Entry

e) Drawback Entry

 

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