Search Result for : Customs Clearance

The Dollar Business Bureau The CBEC has issued a clarification regarding double taxation of IGST on High Sea Sales of imported goods. It had come to the notice of the Customs Board for a clarification whether High Sea Sales of imported goods would be charged IGST twice - under sub-section (7) of section 3 of Customs Tariff Act, 1975 and also separately under Section 5 of The Integrated Goods and Services Tax Act, 2017. The Board issued a clarification on the same vide Customs circular no- 33/2017 dated August 1, 2017. ‘High Sea Sales’ is a common trade practice whereby the original importer sells the goods to a third person before the goods are entered for customs clearance. After the High sea sale ...

The Dollar Business Bureau The Director of Customs in its latest notification via circular no., 59/2016-Customs dated Dec 2, 2016, has agreed to relax certain rules in the clearance of imported courier shipments. Earlier an authorised Courier could not sub-contract/outsource functions permitted or required to be carried out by him to any other person, without the written permission of the Commissioner of Customs. It is in this regard the Express Industry Council of India (EICI) had written to the Board that it is experiencing difficulty in obtaining permission each time they want to outsource any of the components in the door to door supply chain. EICI has further elaborated on the subject by saying that it is not viable and efficient for a courier operator to own entire supply chain ...

The Dollar Business Bureau The CBEC is yet again trying to facilitate faster, and easier ways to clear out cargo. This time, to speed things up on the 'Courier front' and to facilitate customs clearance of courier parcels, gifts, documents etc. in Courier Terminals across the country, CBEC has introduced the Express Cargo Clearance System or ECCS. ECCS is an Automation Program developed on PPP model by Express Industry Council of India (EICI). EICI is a representative body of courier/express industry in the country. The new system would be introduced as a pilot project at Courier Terminal, CSI Airport, Mumbai with effect from December 5, 2016, to carry out automated assessment and clearance under the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010. For a smooth and seamless operation ...

The Dollar Business Bureau The CBEC in its latest Customs Circular No- 53/2016dtd Nov18th 2016, has clarified that in its previous circular no.- No.48/2016-Customs dated 26.10.2016, the revised guidelines for clearance of un-shredded compressed or loose metallic scrap had been prescribed. However  while prescribing the details needed to clear the shredded metallic scrap (both ferrous and nonferrous), it has been wrongly mentioned that the import shall be permitted ‘without any pre-shipment certificate’. But under the policy conditions mentioned in the HandBook of Procedures in Para 2.54 (b) there is a clear mention that the importer shall furnish to the Customs, a pre-shipment inspection certificate from the designated inspection & Certification agencies. Therefore keeping in mind the policy condition already mentioned in the HBP, CBEC has directed that ...

Bidhu Bhushan Palo | @TheDollarBiz India has slipped four points to the 126th rank in World Bank’s “Trading Across Borders” indicator in the 2015 Ease of Doing Business report released this week. Singapore, Hong Kong, and South Korea hold the top three spots respectively. Launched in 2002, the Doing Business (DB) is a World Bank project which aims to provide measures of business regulations (which includes foreign trade) and their enforcement across 189 economies at different levels. DB measures three broad parameters (documentation, time and cost per container) to rank countries in the “Trading Across Borders” indicator. It excludes tariffs, time and cost for sea transport associated with exporting and importing a standard shipment of goods by sea transport. According ...

Pull factor expected to trigger a race to simplicity among governments in trade facilitation Bidhu Bhushan Palo | @TheDollarBiz Despite progerss in the last two decades, India stands at 134 and 179 in World Bank's Ease of Doing Business and Starting a Business 2014 rankings respectively out of the total 189 countries monitored.   Simplicity is the most difficult thing to secure in this world; it is the last limit of experience and the last effort of genius. This quote by author George Sand (Amantine-Lucile-Aurore Dupin) dates back to the 19th century, but perhaps no one understands this better than the World Trade Organisation (WTO). After the Bali conference in 2013, WTO claimed that the Trade Facilitation Agreement (TFA) agreed in the Bali Package ...