Handling of Customs Formalities & Duties in Originating & Destination Countries
Shipping and Custom formalities are governed by Section 40 of the custom act1962. According to this act if we are dealing in export-import we have to go through the process of shipping and customs formalities. At the time of Export and Import, the customs department evaluates the venue of goods with the current market price. So that any exporters cannot be under the invoice or over invoice at the time of export and import, Custom formalities are also crucial for collecting customs duty for such goods.
Process of Custom clearance for exportable goods
1. Preparation and Submission of Export Documents –
Export prepares all the necessary documents which are required for export and submits those
documents to the customs department.
* Commercial Invoice
* Packing List
* Certificate of Origin
* Shipping Bill
* Insurance Certificate
2. Verification of Documents –
After receiving the Documents Custom authority verify all the documents submitted by the
exporter.
3. Valuation of Goods –
After verification of documents, the customs authority will evaluate the current market price of
the goods and they will
match that price with the Value return on that price. There may not be a huge variation in price.
4. Obtaining carting order from the port trust authority –
Without taking the carting order exporter cannot move his container inside the port area, For
obtaining the carting order
exporter has to fill in all the entries in the carting register including the name of goods, port of
origin, and port of destination.
Only after the carting order vehicle and containers are allowed to enter into port premises.
5. Custom Examination –
During the customs clearance, process customs authorities take a sample of goods for evaluation
to stop smuggling from India.
6. Issue of let export order –
After custom examination customs authorities issue the let export order by writing let export in
the shipping bill. This means the custom authority has granted permission for export.
7. Issue of Let Ship Order –
After the let export order custom the preventive officer writes let ship on the same shipping bill.
This means the customs department is permitting the shipment of goods from
India without these orders no one export or make shipment of goods from Indian ports.
8. Obtaining Mate’s Receipt –
There are documents issued by the commanding officer or captain of the ship while receiving the
container on the vessel.
In this receipt description of goods and packing quality of the goods.
9. Obtaining a Bill of lading –
After the issue of the mate, the receipt exporter deposited that mate receipt in the shipping
company’s office.
For example: If the exporter is sending the goods through any shipping company. So he will
submit the mate’s receipt. In
the office of that company after that, only the shipping company issued the Bill of loading.
10. Payment of Port Charges –
The last exporter will clear all the port dues, like loading and unloading charges for the
container.
Custom Clearance
The goods must be cleared from customs before they can be loaded on the ship.
For obtaining custom clearance, the exporter prepares a shipping bill.
The shipping bill is the main document based on which the customs office permits
export.
Shipping bills contain a particular of the goods being exported, the name of the vessel,
the port at which goods are to be discharged, the country of final destination, the export’s
name, address, etc.
Custom Duty
Customs duty is a sort of tax that is levied in International Trade. Government charges custom duty on the Import and Export of goods.
Custom Broker
Anybody who has been licensed under the regulations to discharge the duties as a customs broker. The customer broker is right at the center of International Trad. It is who ensures compliance. It is who ensures the whole export and import happen within the boundary of law.
International courier in Chennai
Chennai is a city in the southern state of India called Tamil Nadu. Chennai is well known for its culture and spirituality. Chennai is situated near the Bay of Bengal hence helping in international trade. There are several international couriers in Chennai, but one of the best courier services in Chennai is The Deskmate International Courier.
Deskmate International Courier
Deskmate international courier is the courier service that delivers your shipment safely and securely in a time-bound manner. Deskmate is one of the best and leading courier services in Chennai. The company has progressive thinking with fast-growing logistics solutions. Deskmate owns a good reputation in the logistics business. The main aim of Deskmate international courier is to help their clients with their problems, provide them with the best solutions, and ensures the best and safe transit of goods. Deskmate international couriers give access to live web tracking, with real-time statistics and door-to-door service. They have a strong reputation in the market and have the best customer reviews all over the market. They provide international courier services at affordable prices and ensure that every client is highly-satisfied with their services. Deskmate handles the customs formalities and guides you in customs clearance.