What is UD (Utilization Declaration)?
What is UD (Utilization Declaration)?
Utilization Declaration is a highly crucial custom document for the RMG (Ready-Made Garments) sector. UD is necessary for releasing all importable raw materials from customs ports. It is required for both imports, cash incentives, and other purposes.
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Where to File UD:
In Bangladesh, the National Board of Revenue (NBR), along with BGMEA (Bangladesh Garment Manufacturers and Exporters Association) and BKMEA (Bangladesh Knitwear Manufacturers and Exporters Association), has granted permission to BGMEA and BKMEA and their member units for issuing Utilization Declaration.
Documents Required for UD Filing:
1. An application on the company's official letterhead.
2. A consumption report on the company's official letterhead.
3. Export Letter of Credit (L/C) or Contract Copy.
4. Back-to-Back L/C copy (Import/Local).
5. Proforma Invoice (Raw Material).
6. Bank Certificate.
7. Measurement Chart.
8. Sample.
9. Money Receipt.
Documents Required for UD Amendment:
1. An application on the company's official letterhead.
2. A consumption report on the company's official letterhead (if needed).
3. Export Letter of Credit (L/C) or Contract Copy (Amendment copy).
4. Back-to-Back L/C copy (Import/Local).
5. Proforma Invoice (Raw Material).
6. Bank Certificate.
7. Measurement Chart (if needed).
8. Sample.
9. Previous Utilization Declaration/Amendment copy.
10. Money Receipt.
Utilization Declaration and its amendment are critical processes in the RMG sector, ensuring the proper utilization of raw materials and adherence to customs regulations. Complying with these requirements is essential for businesses operating in this sector in Bangladesh.