Académique Documents
Professionnel Documents
Culture Documents
On 23 rd July
2012
Respective authorities
Such as APEC for RMG.
REGIONAL LICENCING
AUTHORITY
Registration of organization
Companies Act,
1956
Partnership Act,
1932 etc
Obtaining PAN
EXPORT income is subject to a
number
of
exemptions
and
deductions under the Income Tax
Act. For claiming those exemptions
and deductions, it is necessary for
every exporter to obtain PAN from
the Income Tax authority. PAN is
essential while applying for IEC
IEC number
EXPORT LICENSING
Part I: Prohibited Items: These items cannot be
exported or imported. These items include wild
life, exotic birds, wood and wood products in the
form of logs, timber, etc .,
Part-II: Restricted Items: These are the items ,
export or import of which is restricted through
license. They can be imported or exported only
in accordance with the regulations governing in
this behalf.
Part III: Canalized Items: Goods, which are
canalized, can be imported /exported through
the canalizing agency, specified in the negative
list. The DGFT may issue license to any other
person to import or export those items, which
are included in the negative list.
Lets see
DOCUMENTATI
ON
The types
Documentation: Overview Commercial and
Regulatory documents
Understanding
Invoice,
Packing
List,
Inspection Certificate, Certificate of Origin,
Shipping
Bill,
ARE-1,
Mate
Receipt,
GR/SDF(Guaranteed
Reciept/
Statutory
Declaration Form) Bill of exchange, Bank
Realisation Certificate, Bill of Lading and
Airway Bill, Bill of Entry etc.
Incoterms
Terms of payment
Letter of credits - Concept, Types of L/C, Parties
to L/C, L/C mechanism.
why Documents ?
a) as an evidence of shipment and title of
goods;
(b) for obtaining payment;
(c) to provide a specific and complete
description of the goods;
(d) for assessment of correct Duty for
clearance purpose;
(e) for obtaining Export Licenses;
(f) for obtaining export finance;
(g) for completing Pre-shipment Inspection;
(h) for claiming export benefits like Duty
Drawback, etc.
Commercial / Regulatory
Documents
Commercial set of documents are mainly
used
for Commerce. In other words these are
documents normally exchanged between buyer
and seller. Examples : Commercial Invoice /
Inspection
Certificate
/
Insurance
Certificate / Bill of Lading / AWB/
Certificate of Origin/ Bill of Exchange/
Shipment Advice/ Packing List
Regulatory documents are required in dealing
with various regulatory authorities such as
customs, RBI, Excise, Licensing authorities
Inspection and other Export Promotion bodies
for availing incentives etc. Examples: Shipping
Bill/ ARE1 from (Excise)/ RBI Declaration
Forms (GR)/Application for remittance of
currency/ Various Licences /Bill of Entry
Commercial / Regulatory
Documents
Referring to the Commercial set of
documents, it may please be observed
that these set of documents are prepared
from other set of documents (some of
these only). These are known as auxiliary
documents.
These documents may not be required by
the foreign buyer, but these are must for
preparation of main export documents,
known as Principle Commercial
Documents.
Understanding Documents
All documents whether it is for export or import
transaction generally contain following information
Name and address of the exporter and importer
Document No. and date.
Order No. and date
Port of discharge
Port of destination
Country of origin
Description of Goods
Marks and nos., model nos. [if any]
Weight
ITC HS Code No. /Indian Trade Classification.
Value
Currency
Terms of payment
Terms of shipment etc.
Invoice
It is itemized statement prepared and issued
by a seller at the time of dispatching the
goods to the buyer.
It helps the Customs Authorities to:
ensure that goods shipped are permitted by the
export policy.
compute the customs duty, if any, payable on the
export or the import.
check the quantity of goods. They generally open
a few packages at random and check the
veracity of details in the invoice.
check if there is any over-invoicing or underinvoicing (that may be resorted to by the
importer to reduce the import duty payable).
Performa Invoice
Commercial Invoice
Consular Invoice
Legalized Invoice
Customs Invoice
Packing List
It is a consolidated statement in a prescribed format
detailing how goods are packed, marked and
numbered including weight and dimensions of each
package.
It is useful for customs at the time of examination
and warehouse keeper of buyer to maintain inventory
record and to effect delivery.
It have many details common from invoice but it
does not indicate unit rate value of goods.
The exporter or his/her agent, the customs broker or
the freight forwarder, reserves the shipping space
based on the gross weight or the measurement
shown in the packing list.
Packing List
Customs uses it as a check-list to verify:
the outgoing cargo (in exporting) and
the incoming cargo (in importing).
Inspection Certificate
Certificate of Inspection is issued by the Inspection Agency
concerned certifying that the consignment has been inspected
before shipment as per the requirements of the Exports (Quality
Control and Inspection) Act, 1963.
It satisfies the conditions relating to quality control and inspection
as applicable to it and is certified export worthy.
This certificate is required:
Preferential Certificate of
Origin
It entitles preferential treatment in duty in
the importing country.
These certificates are governed by rules of
origin which are always part of
Preferential Trading Agreements entered
into between two or more countries.
As far as India is concerned the following
agreements are noteworthy:
Non-preferential Certificate of
Origin
Shipping bill
Shipping Bill is an important document required
to seek permission of customs to export goods
by Sea/Air. It is prepared by the exporter and
submitted to the Customs.
The exporter of any goods has to file a SHIPPING
BILL as an entry for the purpose of export by
air or sea and a BILL OF EXPORT in respect of
export by land.
Cargo will be allowed to be carted to Dock/Port
sheds only after stamping and passing of the
shipping bill by customs authorities.
The exporter has to sign a declaration in the
Shipping Bill regarding the truth of its contents.
ARE
ARE stands for application for removal of excisable
goods for exports by Air/Sea/ Post/Land.
Goods which are sold overseas are exempted from
payment of excise duty or entitled for Rebate of
Excise Duty, if excise paid goods are exported.
Under both these circumstances, the document to
be used is ARE.
When goods are removed without payment of duty
for the purpose of export, they will get covered
under the provisions of Rule 19 of the Central
Excise Rules.
Mate Receipt
Mate Receipt
Port authorities recover port
production of this receipt.
dues
from
exporter
on
and
Bill of Exchange
Bill of Exchange [BE] is a document drawn and
is an order by the exporter to the buyer to pay
the money in specified exchange.
It is also known as a draft.
A bill of exchange is accompanied by
commercial documents which are presented by
a bank and released to the buyer either against
payment (at sight) or against a signature for
payment on a specified future date.
It is an unconditional written order.
Bill of Exchange
When a BE is drawn on foreign firm it is termed
as a foreign draft or bill of exchange.
It is prepared either in an international currency
or Indian rupees depending on the terms of the
contract.
Accordingly, the bill is known by the name of
currency in which it is drawn.
e.g. a bill drawn in US dollars is known as a
Dollar Bill and when drawn in Rupees, it is
termed as Rupees Bill.
B) Usance Draft
When draft is drawn for payment at a date later than the date
of presentation.
It may be a fixed future (specific) date or determinable date
according to the period of credit viz. 30 days, 60 days or 90
days etc.
It is presented to the drawee (importer) who will retire the
documents by accepting the draft by putting his signature and
date.
Features of a Bill of
Exchange:
be
A copy of invoice,
A copy of customs attested export promotion copy of the
shipping bill,
A copy of Bill of Lading/ PP receipt/ Airway bill,
A copy of the insurance certificate/Insurance policy/cover.
Claused
B/L:Which
contains
additional clauses/notations limiting
the responsibility of the shipping
company which specify deficient
condition(s) of the goods and/or
packaging.
Combined Transport B/L:- When
different modes of transport are used;
usually issued when goods stuffed at
shippers premises and delivered at
consignees premises.