Evaluation and Selection of ERP Packages
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Total Quality Management – Meaning & Important Concepts
To understand the meaning of “Total quality management”, let us first know what does Quality mean? Quality refers to a parameter which decides the superiority or inferiority of a product or service. Quality can be defined as an attribute which differentiates a product or service from its competitors. Quality plays an essential role in every […]
Are Women Leaders Better Than Their Male Counterparts? Lessons from the Pandemic
How Women Leaders Were More Effective Than Their Strongmen Counterparts The Covid 19 Pandemic has taught several lessons. Right from the crisis of neoliberalism to the way in which the leaders of the countries and the businesses provided leadership, the pandemic has made us realize some bitter truths about our leaders. For instance, all the […]
Crackdown on Indian Credit Rating Firms
Credit rating industries are part of a closely held industry. For years, this has worked in favor of these agencies since they have to face less competition. However, these agencies are also the first ones to get blamed after every financial crisis. It is a known fact that no one can really predict a market […]
The End of the Indian IT Sector
The Indian IT sector has been facing a lot of flak. The industry is undergoing a transformation. Issues like the availability of H1B visas and adapting to changing technology are at the forefront. The stocks of Indian IT behemoths have taken a beating. Employees are being laid off indiscriminately. All this signals towards the fact […]
Customs Departments are the government designated authority to implement the policies related to import and export, collect customs duties and facilitate movement of people, goods, and cargo into and out of the country.
Customs departments have offices at all seaports, airports and border gateways that are essentially the exit and entry points for people and cargo movements into and out of the country.
Customs agencies are empowered to make arrests, confiscate goods and enjoy powers similar to that of police departments.
Every country annually publishes its policy for Foreign Trade, which stipulates the conditions under which goods and services are eligible to be exported or imported. Customs departments implement the provisions of the policy under customs rules, regulations and tariffs.
Imports in many countries may be allowed freely, or some categories may be permitted with due licenses. Many items are also published as banned for import and not allowed entry into the country.
All of the items imported into the country have to be custom cleared. This applies to the items brought in as personal effects and also imported by trade and business establishments including governmental and defense agencies. Necessary stipulated duties would have to be paid before the goods are released by Customs.
Cargo imported into the country from any point of entry is warehoused at Customs bonded area under customs jurisdiction until it is released after clearance.
Freight Forwarders who coordinate the international transportation also provide customs clearance services to the clients. The activity is called customs brokerage.
Customs clearance work involves preparation and submission of documentations required to facilitate export or imports into the country, representing client during customs examination, assessment, payment of duty and co taking delivery of cargo from customs after clearance along with documents.
Some of the documents involved in customs clearance are :
Customs Agents prepare the document of Shipping Bills in the house for submission while rests of the documents are obtained from the client. Preparing shipping bill involves Classification of cargo under specific classification that is a critical activity in the entire process.
Customs clearance agents are also called Carrying and Forwarding agents. They are registered and licensed by Customs to operate. Their role is limited to acting on behalf of and representing clients as third party agencies engaged in customs clearance.
Customs Agents are linked through EDI with customs in most of the countries and use documentation software to facilitate entire process.
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