Govt simplifies procedures, documentation for export & import
Updated: Aug 13, 2014 03:25:02pm
New Delhi, Aug 13 (KNN) In the backdrop of the Economic survey 2013-14 which highlighted the need for trade facilitation by reducing the number of documents, transaction cost and time for export and import, the government has introduced a number of measures to simplify export and import related procedures and documentation and make these available online for the users.
On trade facilitation measures adopted by the government, “Most of India’s export and import documents are processed at Customs through the Electronic Data Interchange (EDI) system,” said Minister of State for Commerce and Industry, Nirmala Sitharaman in the Rajya Sabha today.
In addition, Central Board of Excise and Customs (CBEC) has introduced 24x7 customs clearance facility at major ports; and the Electronic Bank Realization Certification (eBRC) system introduced by the Directorate General of Foreign Trade (DGFT) ensures secured online flow of export related Foreign Exchange realization information from Banks to DGFT.
Further, exporters can file online applications to avail benefits under the Foreign Trade Policy Schemes. They can also make online payment for application fee,” she said.
Exporters and importers need to comply with the business and regulatory requirements of a number of agencies in India as well as in the importing countries. The most important agencies are customs, shipping companies and banks.
Each of these agencies prescribes standard procedures/ documentation for exports and imports. Filing of Shipping Bill for exports and Bill of Entry for import are the most important procedures for Customs.
While issue of Bill of lading is the main procedure of shipping companies; establishing letter of credit or accepting documents relating to a foreign exchange transaction is the most important procedure relating to banks for exports and imports. (KNN/ES)
On trade facilitation measures adopted by the government, “Most of India’s export and import documents are processed at Customs through the Electronic Data Interchange (EDI) system,” said Minister of State for Commerce and Industry, Nirmala Sitharaman in the Rajya Sabha today.
In addition, Central Board of Excise and Customs (CBEC) has introduced 24x7 customs clearance facility at major ports; and the Electronic Bank Realization Certification (eBRC) system introduced by the Directorate General of Foreign Trade (DGFT) ensures secured online flow of export related Foreign Exchange realization information from Banks to DGFT.
Further, exporters can file online applications to avail benefits under the Foreign Trade Policy Schemes. They can also make online payment for application fee,” she said.
Exporters and importers need to comply with the business and regulatory requirements of a number of agencies in India as well as in the importing countries. The most important agencies are customs, shipping companies and banks.
Each of these agencies prescribes standard procedures/ documentation for exports and imports. Filing of Shipping Bill for exports and Bill of Entry for import are the most important procedures for Customs.
While issue of Bill of lading is the main procedure of shipping companies; establishing letter of credit or accepting documents relating to a foreign exchange transaction is the most important procedure relating to banks for exports and imports. (KNN/ES)
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