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    Submitted By:: Chanchal Dubey Varun Kohli Sumit Pandey Somaditya Banarjee Shakun Bansal Shubham Mishra Anil Yadav

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    anil03
    The document provides information on import procedures in India, including requirements for filing a bill of entry, documents required, payment of duties, and specialized import schemes. Key points covered are: 1. Importers must file a bill of entry or cargo declaration and provide documents for customs examination and assessment. 2. Under the EDI system, importers submit electronic declarations rather than physical documents for verification and assessment. 3. Importers can clear goods for home consumption after duty payment or warehouse goods without immediate duty payment. 4. Specialized import schemes like DEEC require importers to execute bonds with customs authorities.

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    Submitted By:: Chanchal Dubey Varun Kohli Sumit Pandey Somaditya Banarjee Shakun Bansal Shubham Mishra Anil Yadav

    Uploaded by

    anil03
    63 views22 pages
    The document provides information on import procedures in India, including requirements for filing a bill of entry, documents required, payment of duties, and specialized import schemes. Key points covered are: 1. Importers must file a bill of entry or cargo declaration and provide documents for customs examination and assessment. 2. Under the EDI system, importers submit electronic declarations rather than physical documents for verification and assessment. 3. Importers can clear goods for home consumption after duty payment or warehouse goods without immediate duty payment. 4. Specialized import schemes like DEEC require importers to execute bonds with customs authorities.

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    The document provides information on import procedures in India, including requirements for filing a bill of entry, documents required, payment of duties, and specialized import schemes. Key points covered are: 1. Importers must file a bill of entry or cargo declaration and provide documents for customs examination and assessment. 2. Under the EDI system, importers submit electronic declarations rather than physical documents for verification and assessment. 3. Importers can clear goods for home consumption after duty payment or warehouse goods without immediate duty payment. 4. Specialized import schemes like DEEC require importers to execute bonds with customs authorities.

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    Attribution Non-Commercial (BY-NC)
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    Flag for inappropriate content
    Download as ppt, pdf, or txt
    63 views22 pages

    Submitted By:: Chanchal Dubey Varun Kohli Sumit Pandey Somaditya Banarjee Shakun Bansal Shubham Mishra Anil Yadav

    Uploaded by

    anil03
    The document provides information on import procedures in India, including requirements for filing a bill of entry, documents required, payment of duties, and specialized import schemes. Key points covered are: 1. Importers must file a bill of entry or cargo declaration and provide documents for customs examination and assessment. 2. Under the EDI system, importers submit electronic declarations rather than physical documents for verification and assessment. 3. Importers can clear goods for home consumption after duty payment or warehouse goods without immediate duty payment. 4. Specialized import schemes like DEEC require importers to execute bonds with customs authorities.

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    of 22

    Submitted by:

    Chanchal Dubey
    Varun Kohli
    Sumit Pandey
    Somaditya Banarjee
    Shakun Bansal
    Shubham Mishra
    Anil Yadav
    Introduction
    All goods imported into India have to pass through
    the procedure of customs for proper examination,
    appraisal, assessment and evaluation.
    This helps the custom authorities to charge the
    proper tax and also check the goods against the illegal
    import.
    There is no requirement of IEC number if the goods
    are imported for the personal use.
     Also it is important to note that no import is allowed
    in India if the importer doesn’t have the IEC number
    issued by the DFGT.
    Bill of Entry ( cargo
    declaration )
    A Bill of Entry also known as Shipment Bill is a
    statement of the nature and value of goods to be
    imported or exported, prepared by the shipper and
    presented to a customhouse.
    The importer clearing the goods for domestic
    consumption has to file bill of entry in four copies.
    original and duplicate are meant for customs, third
    copy for the importer and the fourth copy is meant for
    the bank for making remittances.
    If the goods are cleared through the EDI (Electronic
    Data Interchange) system, no formal Bill of Entry is
    filed as it is generated in the computer system.
    But the importer is required to file a cargo declaration
    having prescribed particulars required for processing
    of the entry for customs clearance.
    Under the EDI system, the importer does not submit
    documents as such for assessment but submits
    declarations in electronic format containing all the
    relevant information to the Service Centre.
    It is then verified and examined.
    Original documents are taken at the time of
    examination.
    The importer/CHA also need to sign on the final
    document after Customs clearance.
     
    In the non-EDI system along with the bill of entry
    filed by the importer or his representative the
    following documents are also generally required:-
    1. Signed invoice
    2. Packing list
    3. Bill of Lading or Delivery Order/Airway Bill
    4. GATT declaration form duly filled in
    5. Importers/ CHA’s declaration
    6. License wherever necessary
    7. Letter of Credit/Bank Draft/wherever necessary
    8. Insurance document
    9. Import license
    10. Industrial License, if required
    11. Test report in case of chemicals
    12. Adhoc exemption order
    13. DEEC Book/DEPB in original
    14. Catalogue, Technical write up, Literature in case
    of machineries, spares or chemicals as may be
    applicable.
    15. Separately split up value of spares, components
    machineries.
    16. Certificate of Origin, if preferential rate of duty is
    claimed.
    17. No Commission declaration.
    Importers have the following options for the
    offloaded goods:
    1. To clear the goods for home consumption after
    payment of the duties leviable .
    2. To clear them for warehousing without immediate
    discharge of the duties leviable in terms of the
    warehousing provisions built in the Customs Act.
    While filing the bill of entry and giving various
    particulars as prescribed therein the correctness of
    the information given has also to be certified by the
    importer in the form a declaration at the foot of the
    bill of entry .
    Any mis-declaration/incorrect declaration has legal
    consequences, and due precautions should be taken
    by importer while signing these declarations
    Amendment of Bill of Entry
    Whenever mistakes are noticed after submission of
    documents, amendments to the bill of entry is carried
    out with the approval of Deputy/Assistant
    Commissioner.
    Green Channel Facility
    Some major importers have been given the green
    channel clearance facility.
    It means clearance of goods is done without routine
    examination of the goods.
    They have to make a declaration in the declaration
    form at the time of filing of bill of entry.
    The appraisement is done as per normal procedure
    except that there would be no physical examination of
    the goods.
    Payment of Duty
    Import duty may be paid in the designated banks or
    through TR-6 challans.
     Different Custom Houses have authorised different
    banks for payment of duty and is necessary to check
    the name of the bank and the branch before
    depositing the duty.
    Prior Entry for Shipping Bill or Bill
    of Entry
    For faster clearance of the goods, provision has been
    made in section 46 of the Act, to allow filing of bill of
    entry prior to arrival of goods.
    This bill of entry is valid if vessel/aircraft carrying the
    goods arrive within 30 days from the date of
    presentation of bill of entry.
    Specialized Schemes
    Import of goods under specialized scheme such as
    DEEC and EOU etc is required to execute bonds with
    the custom authorities.
     In case failure of bond, importer is required to pay
    the duty livable on those goods.
    The amount of bond would be equal to the amount of
    duty livable on the imported goods.
    The bank guarantee is also required along with the
    bond.
     However, the amount of bank guarantee depends
    upon the status of the importer like Super Star
    Trading House/Trading House etc.
    Bill of Entry for Bond/Warehousing
    A separate form of bill of entry is used for clearance of
    goods for warehousing.
    All documents as required to be attached with a Bill
    of Entry for home consumption are also required to
    be filed with bill of entry for warehousing.
    Assessment of this bill of entry is done in the same
    manner as the normal bill of entry and then the duty
    payable is determined.
    Duty is not required to be paid at the time of
    warehousing of the goods.
    The purpose of assessing the goods at this stage is to
    secure the duty in case the goods do not reach the
    warehouse.
    The duty is paid at the time of ex-bond clearance of
    goods for which an ex-bond bill of entry is filed.
    The rate of duty applicable to imported goods cleared
    from a warehouse is the rate in-force on the date on
    which the goods are actually removed from the
    warehouse.

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