Customs Clearance Procedure

Customs Clearance Procedure in India Import and export of goods into and outside a country should undergo a customs clearance process. The importer and exporter of the goods should submit valid documents to clear this process. In this article, we…

Export Bond for GST & Letter of Undertaking

Export Bond for GST & Letter of Undertaking Entities involved in export of goods having GST registration are allowed to export goods without payment of IGST by furnishing an export bond or Letter of Undertaking (LUT) in Form GST RFD-11.…

Import of Foreign Cars into India – Procedure and Guidelines

Import of Foreign Cars into India - Procedure and Guidelines A new imported vehicle according to Government regulations mean a vehicle that:- Has not been manufactured/assembled in India; and Has not been sold, leased or loaned prior to importation into…

Import of Used Cars in India – Procedure and Guidelines

Import of Used Car into India Overview of the procedure and conditions for import of used cars into India. Used cars is a vehicle thats been sold, leased or loaned prior to importation into India; or has been registered for…

Medicine and Drugs Allowed for Import Without a Licence

Medicine and Drugs Allowed for Import Without a Licence List of crude drugs required for the manufacture of ayurvedic, unani or any other system of medicine that is allowed for import into India without a licence. Click here to find…

Input Tax Credit for Imports

Input Tax Credit for Imports Under the GST regime, input tax credit is provided for the IGST and GST Compensation Cess paid during import of goods into India. From 1st July, 2017, after the implementation of GST, all import of…

GST Bill of Entry

GST Bill of Entry GST implementation on 1st July, 2017 will significantly change the procedure for import of goods into India. IGST applicable on imports along with GST Compensation Cess. Further, input tax credit is also provided on the IGST…

Statement of Origin

Statement of Origin Statement of Origin is statement provided by a registered exporter verifying the origin criteria for exports under the European Union (EU) Generalised System of Preferences (GSP). Statement of Origin shall be made out on a Commercial document such…

Certificate of Origin

Certificate of Origin Certificate of Origin is an instrument which establishes evidence o­n origin of goods imported into any country. These certificates are essential for exporters to prove where their goods come from and therefore stake their claim to whatever…

Types of Customs Duty

Types of Customs Duty Basic Customs Duty Basic custom duty is the duty imposed on the value of the goods at a specific rate. The duty is fixed at a specified rate of ad-valorem basis. This duty has been imposed from…