Export Custom Procedure
Tuesday, November 10, 2009 S I O M 1 Presented by: * Rinto Rajan (44) * Prakash Khaladkar (43) * Nihal Mansoori (47) * Pragya Mishra (26) Tuesday, November 10, 2009 S I O M 2 CONTENTS ? ? ? ? ? ? ? ? Introduction Registration stage Pre-shipment stage Shipment stage Post shipment stage Shipping and custom formalities Procedure for realization of export proceeds Conclusion S I O M 3 Tuesday, November 10, 2009 Introduction Export procedure consist of several commercial and regulatory formalities which an exporter is required to complete during the course of export trade transaction.These formalities are very complex and time consuming and involve considerable documentation. Hence, the exporter must possess adequate knowledge of such formalities. At the same time, it should be ensured that the rule and regulations of not only exporting country but also the importing country are duly complied with. Last but not the least, it should be ensured that all the required documents, whether commercial or regulatory, are prepared filed with the appropriate authorities.An export procedure can be studied under the following heads.
a) registration stage b) pre-shipment stage c) shipment stage d) post-shipment stage Tuesday, November 10, 2009 S I O M 4 REGISTARTION STAGE ? ? ? ? ? ? ? ? Registration of the organization Opening bank account Obtaining Importer-Exporter Code Number Obtaining Permanent Account Number Obtaining Sales Tax Number Registration with Export Promotion Council Registration with ECGC.
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Registration with other authorities S I O M 5 Tuesday, November 10, 2009 Pre-shipment stage ? ? ? ? ? ?Approaching foreign buyers Inquiry and offer Confirmation of order Opening letter of credit Arrangement of pre shipment finance Production procurement of goods Tuesday, November 10, 2009 S I O M 6 Continue………… ? ? ? ? ? Packing and marking Pre shipment inspection Central excise clearance Obtaining insurance cover Appointment of C & F Agent Tuesday, November 10, 2009 S I O M 7 Shipment stage ? ? ? ? Reservation of shipping space Arrangement of internal transportation upto the port of shipment Preparation and processing of shipping documents Custom clearanceTuesday, November 10, 2009 S I O M 8 Continue… ? ? ? ? Obtaining carting order from the port trust authorities Customs examination and issue of “Let Export Order” Obtaining “Let Ship Order” from the custom preventive officer. Obtaining Mate’s Receipt and Bill of Lading. S I O M 9 Tuesday, November 10, 2009 Post shipment stage ? ? ? ? ? Submission of documents by the C&F Agent to the exporter. Shipment advice to importer. Presentation of documents to bank for negotiation Dispatch of documents Acceptance of bill of exchange S I O M 10Tuesday, November 10, 2009 Continue… ? Letter of indemnity Realization of export proceeds Processing of GR forms Realization of export incentives S I O M 11 ? ? ? Tuesday, November 10, 2009 Conclusion After we have gone through the procedure, it can be clearly made out that it’s a complex and long procedure. So it can be concluded that for an exporter it is very important to do his homework before he gets into exporting of goods… Tuesday, November 10, 2009 S I O M 12 Thank u ….
Tuesday, November 10, 2009 S I O M 13