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Custom Clearance of Imported Goods.


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. 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. There is no requirement of IEC number if the goods are imported for the personal use.

Bill of Entry

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 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.
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:-

  • Signed invoice

  • Packing list

  • Bill of Lading or Delivery Order/Airway Bill

  • GATT declaration form duly filled in

  • Importers/ CHA’s declaration

  • License wherever necessary

  • Letter of Credit/Bank Draft/wherever necessary

  • Insurance document

  • Import license

  • Industrial License, if required

  • Test report in case of chemicals

  • Adhoc exemption order

  • DEEC Book/DEPB in original

  • Catalogue, Technical write up, Literature in case of machineries, spares or chemicals as may be applicable

  • Separately split up value of spares, components machineries

  • Certificate of Origin, if preferential rate of duty is claimed

  • No Commission declaration

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. 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.

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What is New?

Date: 09-10-2015
DGFT Notification No 24/ 2015-2020
Amendment in Policy condition 1 of Chapter 88 of ITC(HS), 2012 - Schedule-1 (Import Policy).

Date: 08-10-2015
RBI/2015-16/201 A. P. (DIR Series) Circular No. 20
Risk Management & Inter-Bank Dealings: Booking of Forward Contracts - Liberalisation

Date: 08-10-2015
RBI/2015-16/203 A. P. (DIR Series) Circular No. 21
Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU)

Date: 07-10-2015
Central Excise Notification No 21/2015 CE (NT)
Seeks to further amend CENVAT Credit Rules, 2004 so as to allow input credit of duty paid on molasses generated from cane crushed in the sugar season 2015-16 i.e. 1st October, 2015 onwards, used for producing ethanol for supply to the public sector oil marketing companies, namely, Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Ltd. or Bharat Petroleum Corporation Ltd., for the purposes of blending with petrol, in terms of the provisions of S. No. 40A of the Table in notification No.12/2012-Central Excise, dated the 17th March, 2012, by including such supplies of exempted ethanol under rule 6(6) of the CENVAT Credit Rules, 2004

Date: 07-10-2015
DGFT Notification No 23/ 2015-2020
Export Policy of rice.

Date: 06-10-2015
DGFT Notification No 22/ 2015-2020
Amendment in Notification No. 55(RE-2013)/2009-14 dated 03.12.2013 relating to export of Narcotics Drugs and Psychotropic Substances.

Date: 06-10-2015
RBI/2015-16/198 A.P. (DIR Series) Circular No 19
Investment by Foreign Portfolio Investors (FPI) in Government Securities

Date: 06-10-2015
Service Tax Circular No.186/03/2014–ST
Regarding Service tax levy on services provided by a Goods Transport Agency

Date: 05-10-2015
Customs Notification No. 49/ 2015
Seeks to further amend notification No. 12/2012-Customs dated 17.03.2012 so as to increase the basic customs duty on ghee, butter and butter oil from the present rate of 30% to 40% for a period upto and inclusive of the 31st day of March, 2016

Date: 01-10-2015
Central Excise INSTRUCTION
Jurisdiction of the Settlement Commission (Customs, Central Excise & Service Tax) in respect of the cases of Gold Smuggling

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