Articles under Import

Reduced free period for filing BE and paying Import Duty

Amendment of Section 46   and Section 47 of Indian Customs Act The below information is about amendment of Section 46   and section 47 of Indian Customs Act related free time allotted to file Bill of Entry for import of goods to India. A new notification has been issued by Customs authorities vide Notification No:12/2017 stating Clarifications have been requested regarding applicability of the new provisions vis-a-vis arrival of goods a

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What is Section 47 of Indian Customs Act

    Payment of Duty under Import of goods to India   The extract of section 47 of Indian Customs Act describes below:   SECTION 47. Clearance of goods for home consumption. - (1)  Where the proper officer is satisfied that any goods entered for home consumption are not prohibited goods and the importer has paid the import duty, if any, assessed thereon and any charges payable under this Act in respect of the same, the proper officer

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What is Section 46 of Indian Customs Act

When to file Bill of Entry for import in India?   The extract of section 46 of Indian Customs Act describes below:         SECTION 46 .  Entry of goods on importation. - (1) The importer of any goods, other than goods intended for transit or transhipment, shall make entry thereof by presenting electronically to the proper officer a bill of entry for home consumption or warehousing in the prescribed form : Provided that the Co

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Rules of RBI if import processing of payment through OPGSP

Import Payment through Online Payment Gateway Service Providers?   As you know any amount receivable to India against exports and any amount payable by India on account of Imports is regulated by Reserve Bank of India, RBI who acts as banker’s bank in India.  So you are liable to answer to RBI for any foreign inward remittance and foreign outward remittance.    Telecommunication and digital world changed world a lot in turn Indian imports and exports widel

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Difference between EPCs and CBs

Difference between EPCs and CBs   (a) Commodity Boards look after the export promotion of primary and traditional items of exports, While Ex Promotion Councils look after the export promotion of non-traditional items like engineering goods, computers, chemicals, etc., with promising export potential.   (b) While EPCs are export Potential, statutory bodies. registered under the Companies Act, Commodity Boards are statutory bodies.   (c) EPCs are concerned only with t

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