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Export procedure

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  • 1. Steps involved in Export Procedure
    • A project by –
    • 1. Jay (roll no. 28)
    • 2. Amol (roll no.42)
    • 3. Azhar (roll no39)
    • 4. Subhash (roll no.49)
    • 5. Punit (roll no.40)
  • 2. Export procedure
    • The Term “export”
    • Consists of several commercial & regulatory formalities
    • Formalities are very complex & time consuming
    • It should be ensured that all the formalities are done & documentations are prepared & filed with appropriate authority.
  • 3. Overview of export procedure
    • Stage 1- Registration procedures
    • Stage 2- Pre shipment procedure
    • Stage 3- Shipment procedures
    • Stage 4- Realizing Export incentives
    • Stage 5- Post-shipment procedure
  • 4. Stage 1- Registration procedures
    • Exporter is required to register his organization with number of institution & authorities.
    • The registarion stage includes---
  • 5. Registration with various authorities
    • Registration of the organization- --The form of organization selected by exporter must be registered under the appropriate act of the Country.
    • Opening Bank account
    • Registration with export promotion council- --It is obligatory for exporter & he has to obtain the ‘Registration-cum-Membership Certificate’ (RCMC).
  • 6. Contd…
    • Obtaining membership of chamber of commerce---useful for securing certificate of origin
    • Obtaining GIR No./PAN---
    • Registration for the code number from DGFT---The code number is known as IEC number. This is granted by Director General of Foreign Trade
  • 7. Cont…
    • For obtaining IEC number , exporter has to apply to Regional Licensing Authority in duplicate with the following documents-
    • Two copies of passport size photos duly attested by customs,
    • Photocopy of PAN
    • Details of current Bank account
    • RCMC from EPC
    • Photocopy of Industrial license
    • Certificate of incorporation issued by the registrar of Companies
    • DD for payment of fee of Rs.1000
    • Declaration that exporter isn’t on RBI’s caution list,
    • Any other document.
  • 8. Contd…
    • Registration for BIN
    • Filling income tax return--- with www.nic.in/eximpol
  • 9. PRE-SHIPMENT STAGE
    • PRE-SHIPMNET STAGE CONSISTS OF FOLLOWING STEPS
    • APPROACHING FOREIGN BUYERS :
    • INQUIRY AND OFFER :
    • CONFIRMATION OF ORDER :
    • OPENING OF LETTER OF CREDIT :
    • ARRANGEMENT OF PRE-SHIPMENT FINANCE:
  • 10. Contd…
    • PRODUCTION OR PROCUREMENT OF GOODS:
    • PACKING AND MARKING :
    • PRE-SHIPMENT INSPECTION :
    • CENTRAL EXCISE CLEARANCE : The exporters are totally exempted from the payment of central excise duty. However, the exemption should be claimed in one of the following ways:- a)Export under Rebate. b)Export under Bond.
    • OBTAINING INSURANCE COVER : The exporter must take appropriate policies in order to insure risks :-a)ECGE policy in order to cover credit risks. b)Marine policy, if the price quotation agreed upon is CIF .
    • APPOINTMENT OF C & F AGENT:
  • 11. Shipment procedure
    • Shipping procedure consists of the following:
    • Reservation of space in the ship: the exporter has to contact the shipping company well in advance for booking the required space in the vessel for shipment of his consignment through his C&F agent . and has to provide information about date of shipment ,gross and net weight of each package, particulars.
    • 2) Arrangement of internal transport from factory/warehouse to the port of shipment: transporting goods by road or rail from his own place to shipment.
  • 12.
    • 3) Preparation and processing of shipping documents:
    • When goods reach the port of shipment, the exporter hands over the complete set of documents to the forwarding agent; which are submitted to the customs appraiser at the customer house.
    • Shipping bill(five copies)
    • Commercial invoice(in duplicate)
    • Letter of credit together with the export contract.
    • Certificate of origin
    • G R form(original and duplicate)
    • ARE-1 form(original and duplicate)
    • Packing list or packing note.
    • Excise invoice.etc
  • 13. CUSTOMS CLEARANCE:
    • Has following stages:
    • Carting order : C&F agent obtains ‘Carting Order' from the port trust authorities to cart or carry the goods inside dock.
    • Storing the goods in the shed,
    • Examination of goods,
    • Let ship order,
    • Loading of goods,
    • Payment of port dues,
    • Obtaining bill of lading,
  • 14. CUSTOMS EDI SYSTEM
    • On 15 th sept.2004 government of India introduced computerized processing of shipping bills under the Indian customs EDI(electronic data interchange)system.
    • About 20ports in India have adopted computerized processing of shipping bills. only statuary declarations will be manually screened. with exception of minor variance custom clearance remains same under computerized processing of documents.
  • 15. Advantages of customs EDI system.
    • Ease of operation.
    • Less of running around
    • Economical
    • Improved service
    • Prompt service
    • Exporters main gainers
    • Smooth and clear out operations
    • Benefits officials.
  • 16. Stage 4 - Realizing Export incentives
    • Incentive is an expectation that encourages people to behave in a certain way
    • The Government of India has framed several schemes to promote exports and to obtain foreign exchange. These schemes grants incentive and other benefits. The few important export incentives & exemptions are ----
  • 17. Exemptions for Indian Exporters’
    • Registration with Excise Authorities---They get exemption,& they have two options either deposit excise duty at time of clearance from factory & later claim return or open Bond Account with Maritime Collector of Central Excise
    • Obtaining PAN---
    • Registration with sales tax Authorities---he should register with authorities of his state.
  • 18. Cont…
    • Registration with VAT Authority--- It should be done with authorities of concerned state.
    • Registration with Export Credit Guarantee Corporation of India (ECGC)---
  • 19. Facilities to Indian Exporters
    • Marketing Development Assistance (MDA)
    • Market Access Initiative (MAI)
    • Free Trade Zones (FTZ)
    • Export Financing
    • Exim Bank Finance
    • Advance Licence / Duty Exemption Entitlement Scheme (DEEC) & Duty Drawback
    • Manufacture under Bond
  • 20. Stage 5 - Post Shipment Stage
    • Submission of documents by the agent to the exporter
    • Presentation of documents to the bank for the purpose of negotiation
    • Dispatch of Documents
    • Documentary Bill of Exchange
    • Letter of Indemnity
    • Realization of export Proce eds
    • Processing GR Form.
  • 21. SIGNIFICANCE OF FINANCE
    • GENERAL TRADING RELATED FINANCE
    • MARKETING
    • TAXES AND DUTIES
    • MAIN SHIPPING FINANCE
    • BANK RELATED CHARGES
  • 22. TYPES OF POST SHIPMENT FINANCE
    • Export bill discounted
    • Advance against bills sent for collection
    • Advance against goods sent on consignment basis.
    • Advance against drawback duties
    • Advance against undrawn bills
    • Advance against deemed exports.
  • 23.