Importing procedures for Clocks, Watches and Parts thereof
CVD on RSP based valuation for import of some items under Clocks, Watches and Parts Thereof
Some of the items under Clocks, Watches and Parts Thereof fall under RSP based valuation to estimate import tax. CVD is calculated on the basis of RSP based valuation to determine import duty. RSP means retail sale price. Retail Sale Price RSP means the maximum price at which the excisable goods in packaged form may be sold to the ultimate consumer and includes all taxes local or 
otherwise, freight, transport charges, commission payable to dealers, and all charges towards advertisement, delivery, packing, forwarding and the like, as the case may be, and the price is the sole consideration for such sale.
Common requirements to import
Registration to act as an Importer: Government registration is required to become an importer in the country to act as an importer. Foreign Trade government office of respective country is responsible to issue such authorization to become an importer. In India, IEC number (Import Export Code Number) is obtained from the office of Director General of Foreign Trade office to operate as an importer and exporter in India. Registration procedures to act as an importer are a onetime process, but renewal may be required as per the terms and conditions of such foreign trade office of a country. In most of the countries, the information on such registration for importer – exporter is linked with customs location and reserve bank, as process of imports and exports are online digitalized. So the importer of Clocks, Watches and Parts Thereof is also required to contact concerned government agencies of their importing country to verify whether such onetime registration is necessary or not.
Procedures to import: As per the mutual agreement between buyer and seller, the import shipment is taken place. Pricing, quality specifications, terms of payment, terms delivery, mode of transport and other terms and conditions are agreed and mentioned in purchase order and import shipment of Clocks, Watches and Parts Thereof is effected accordingly.
As you know, under any importation of goods, necessary import documentation and customs clearance procedures at importing country have to be completed either importer’s customs broker or importer directly as per foreign trade policy of respective importing country. For importing Clocks, Watches and Parts Thereof also, import entry documents along with carrier’s document (Bill of Lading /Airway bill), commercial invoice, packing list, certificate of origin and other required documents are filed and necessary import procedures are completed to take delivery of imported goods under Clocks, Watches and Parts Thereof. Nowadays, necessary information is filed online and produces required documents at the time of inspection, assessment or delivery of import of goods at destination customs location. The international partners of countries share quality measures each other and exempt from multiple inspection on same products both for export and import. However, as per the policy of most of the developed countries import of goods from Least Developed Countries (LDC) need to be certified by authorized agencies before export. So, if any import of Clocks, Watches and Parts Thereof takes place, the details of such information can be obtained from necessary government agencies of importing country.
Certificate of Origin to import Clocks, Watches and Parts Thereof: The source of origin of imported Clocks, Watches and Parts Thereof is required in almost all countries. So a certificate of origin issued by necessary approved authorities at exporting country is required to import Clocks, Watches and Parts Thereof. Certificate of origin helps to determine origin of imported goods to avail exemption on import duties and taxes. Different unilateral, multilateral and bilateral agreement between countries also allows imports and exports with exemption of import duties where in Certificate of Origin is the primary proof on country of origin of importing goods under Clocks, Watches and Parts Thereof.
Bilateral and Unilateral agreements under importation of Clocks, Watches and Parts Thereof:
The countries each other may have bilateral, multilateral and unilateral agreements which exempt documentation and rates of import tax and duties. The importers have to collect accurate information from necessary government agencies before import of Clocks, Watches and Parts Thereof.
Restriction to import
Some of the materials are prohibited to import in some countries based on their foreign trade policy on imports. So importer can cross check the requirements of import of their products before placing order with overseas buyer.
Prohibition to import
Some of the materials are prohibited to import in some countries based on their foreign trade policy on imports. So importer can cross check the requirements of import of their products before placing order with overseas buyer.
In this article, the documentation, process and formalities to import Clocks, Watches and Parts Thereof are explained. As explained above, this information is generally applicable for all countries to import Clocks, Watches and Parts Thereof. These details on how to import Clocks, Watches and Parts Thereof are given to provide a basic idea to bring vegetables from foreign country. Specific requirements for each importing country need to be followed by importers and exporters of Clocks, Watches and Parts Thereof.
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The above information is a part of Online export import training guide
The above post commonly explains on the questions given under about import guidelines of Clocks, Watches and Parts Thereof. These products fall under chapter 91 of HS code. Please contact authorized government agencies of importing country for accurate information on importation procedures and formalities:
Import guidelines to foreign buyers of pocket watches. How to import stop watches? What are the procedures to import electrically operated? Import clearance formalities of watches with mechanical display. Tips to importers of watches with opto-electronic display . Processes to import wrist-watches, pocket-watches and other watches, including stop watches, other than those of heading 9101. Can I import parts of electrically operated. Is import of wrist-watches, whether or not incorporating a stop-watch facility permitted?. Import clearance procedures of clocks with watch movements. Import documents require for alarm clocks. Customs procedures to import electrically operated watches. How to import wall clocks?. Processes to import time pieces. Licenses required to import battery, accumulator or mains powered watches. Government rules to import time-registers; time-recorders. Tips to overseas buyers of time switches with clock or watch movement or with synchronous motor. Government licenses required to import electrically operated clocks. Methods to import opto-electronic display. Import procedures to bring clock movements, complete and assembled. Shipping procedures to import complete movements, unassembled or partly assembled (movement sets). Import tips to foreign buyers of precious metal or of metal clad with precious metal. Importation of clock or watch parts. How to import springs, including hair-springs clocks. Can I import watch cases and parts thereof? Guidelines to importers of cases of precious metal or of metal clad with precious metal clocks. Formalities to import clock cases and cases of a similar type for other goods. Shipping procedures required to import watch straps, watch bands and watch bracelets, and parts.
The information provided here is part of Guide on howtoexport and import