The Business of Imports in India – An Overview

 In customs clearance

Custom clearance agents constitute an efficient logistics support system. They help goods from foreign shores reach Indian consumers at ease. The most important part of the import journey is the customs clearance at the shipping dockyards and the airports. The custom clearance routine ensures that there is no unlawful entry of products within the nation. It also makes overseas transportation a hassle-free experience for the importers and the exporters. 

The Essential Terms Related to Import Industry

Be smart to know what are the terms and phrases related to import:

  • Shipper – the person who is the seller of the goods or the exporter
  • Consignee – the person who is importing the goods or the importer
  • INCOTERM (International Commerce Terms) –refers to aspects related to cost charged by the exporter or shipper, such as:
  • EXW – means the consignee is responsible for picking up the product from the shipper’s factory and also bear the transportation cost
  • FOB – the shipper will take the onus of custom clearance and supervise boarding of the shipment either to ship or aeroplane. The consignee needs to bear the expenses of the freight and charges required after that. 
  • CIF (Cost Insurance Freight) – the shipper is responsible for the final delivery of the product to the destination and bears the cost of insurance and freight. 
  • Harmonised System Code (HS) – these are universally accepted numbers. They are assigned to individual products by the shipper.
  • Freight Forwarding – there are several freight forwarding organisations which provide safe and secure overseas transportation via road, air and sea routes. 
  • Customs Broker – an organisation that is responsible for clearance of the goods after scrutiny, both at the shipper’s and the importer’s end.

What are the Essential Documents Required for Import?

The valuable import documents are:

  • IEC (Import-Export Code) issued from Director General of Foreign Trade
  • An invoice containing details of the seller and the exported goods
  • Packing list includes information on the shipment (like the number of cartons, weight, etc.)

There are individual consignments that require additional certifications like:

  • FSSAI registration for food items
  • Form 10 and Form 43 registration for cosmetic goods
  • WPC certificate for wireless products
  • Fumigation certificate for wooden furniture products

AP Clearing Agency Private Limited is an authorised custom house agent in India. It provides the best custom clearance services in India. They are among the leading logistic and freight forwarding agencies reputed for implementing smart technologies and handling challenging logistics projects. 

 

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