custom clearance of import cargo
TRANSCRIPT
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Custom Clearance of Import Cargo
![Page 2: Custom Clearance of Import Cargo](https://reader036.vdocuments.net/reader036/viewer/2022082804/54705ef0b4af9fee738b4591/html5/thumbnails/2.jpg)
Introduction
• Goods imported attract customs.• Source of revenue• Checks smuggling• Regulates trade• Undertakes agency functions• Collects trade data
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Types of import
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Import of Unrestricted Items
• Import of goods having restriction under Import policy 2002-07 cannot be imported.
• An intending exporter has to check ITC(HS) Classification.
• Only requirement is payment of import duties.
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Import of Restricted Items• Import license required to import restricted items.
• It is known as NEGATIVE LIST.
• Justification for import of such items required.
• Import of such items not a matter of right but privilege extended by government.
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Import of Capital Goods• Import of capital goods is liberal.
• The only requirement is payment of applicable import tariff, and arrangement of custom clearance
• Should not be more than 10yrs old
• Cannot be transferred, sold or otherwise disposed off within 2yrs.
• Export Promotion Capital Goods Scheme.
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Advance Licensing
• Import of raw material under Duty Exemption Scheme.
• Duty free license to import for the purpose of export.
• It includes raw materials, components, spares, packaging materials.
• Export obligation imposed on importer.
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Required Documents
The importer is required to fulfill the following documents to the bank:
• Letter of authorization to debit his account along with the bank charges.
• Form A-1 for sending remittance to the exporter.
• Exchange Control Copy of the Import License, if applicable.
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Procedure
1.Arrival of goods & import general manifest2.Preparing bill of entry3.Services of C.H.A.4.Presentation of bill of entry for noting5.Presentation of bill of entry for appraisal.6.Payment of duty7.Physical examination as per exam order8.Release order9.Confiscation of goods
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Thanks…