Acche Din- Mandatory documents for Import/ Export Reduced to 3
IMPORT AND EXPORT MANDATORY
DOCUMENTS REDUCED
Mandatory documents required for import
and export of goods reduced to three documents each (w.e.f 1st Apr,15):
India took a step forward in
improving ‘Ease of Doing Business’ by reducing the compulsory documents
required for import and export of goods. The Directorate General of
Foreign Trade (DGFT) issued a Notification No.
114 (RE-2013)/2009-2014.
A committee ‘Inter Ministerial
Committee’ was set up by the department of commerce to recommend
devices to reduce requisite number of mandatory documents, transactions cost
and time for Exports and Imports.
Based on the recommendations of
“Trading Across Borders” report submitted by committee,
The India’s central bank RBI has agreed to
do away with the ‘Foreign Exchange Control Form (SDF)’ by incorporating the
same in the ‘Shipping Bill’ (for exports) and dispensing with the ‘Foreign
Exchange Control Form (Form A-1)’ (for imports).
Customs have also agreed to
merge the ‘Commercial Invoice’ with the ‘Packing List’ and have issued a Circular for
accepting ‘Commercial Invoice cum Packing List’ that combines the required
details of both the documents. Optionally the exporters and importers may fill
separate, ‘Commercial Invoice’ and ‘Packing List’ also, if they so want.
Shipping Ministry has also
agreed to do away with the requirement of ‘Terminal Handling Receipt’ and make
the process online.
The following mandatory documents are
prescribed for exports and imports of goods from/into India:
MANDATORY DOCUMENTS FOR EXPORT & IMPORT
|
||
S. No.
|
EXPORTS
|
IMPORTS
|
1
|
Bill of Lading/ Airway Bill
|
Bill of Lading/ Airway Bill
|
2
|
Commercial Invoice cum Packing List
|
Commercial Invoice cum Packing List
|
3
|
Shipping Bill/ Bill of Export
|
Bill of Entry
|
Below listed 7 and 10 documents were
mandatory respectively for export and import from/to India:
OLD MANDATORY DOCUMENTS LISTED
|
||
S. No.
|
EXPORTS
|
IMPORTS
|
1
|
Shipping Bill
|
Bill of Entry
|
2
|
Commercial Invoice
|
Commercial invoice
|
3
|
Packing List
|
Packing List
|
4
|
Bill of Lading
|
Bill of Lading
|
5
|
Foreign Exchange Control Form (SDF)
|
Foreign Exchange Control Form (Form A-1)
|
6
|
Terminal Handling Receipt
|
Terminal Handling Receipt
|
7
|
Technical Standard Certificate
|
Certified Engineer’s
Report
|
8
|
Cargo Release Order
|
|
9
|
Product manual
|
|
10
|
Inspection report
|
Now it is expected that this step
would improve India’s ranking. India ranked 126th in Trading Across Borders
component of “Ease of Doing Business”, out of 189 countries ranked by the World
Bank in its 2015 Report.
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