Category: Customs

Jun 19

The Impact of Trade Barriers and Political Upheaval on Export Businesses

International trade plays a vital role in the global economy, fostering economic growth and providing opportunities for businesses to expand their markets. However, trade barriers and political upheavals can significantly affect the operations and profitability of export businesses. The various ways in which trade barriers and political instability can impact export-oriented enterprises : a. Increased Costs: Tariffs and import duties imposed on exported goods can raise their prices, making them less competitive in international markets. Exporters may be forced to Read Full Details…

Jun 19

CBIC notifies Courier Imports and Exports (Electronic Declaration and Processing) (Second Amendment) Regulations, 2023

The CBIC vide Notification No. 43/2023-Customs (N.T.) dated June 15, 2023 notified the Courier Imports and Exports (Electronic Declaration and Processing) (Second Amendment) Regulations, 2023. This amendment is made under the authority of the Customs Act, 1962. The regulations, which will become effective upon their publication in the Official Gazette, aim to modify the Courier Imports and Exports (Electronic Declaration and Processing) Regulations of 2010. The specific amendment involves Form HA within the 2010 regulations. Under heading D and column Read Full Details…

Jun 11

Customs to introduce additional disclosures for export-import of medicinal products from July 1

The Customs Department will introduce additional disclosures for the export and import of medicinal products from July 1 to fast-track clearances of shipments. These additional disclosures will reduce queries of Customs officials, which are frequently posed to EXIM traders dealing in medicinal plants and chemicals. In a circular, the CBIC said in consultation with the Ministry of AYUSH and DGFT it has been decided that additional qualifiers like declaration of the name of the medicinal plant for exports of parts Read Full Details…

Jun 04

Understanding International Traveler’s Baggage Rules for Export and Import

International travel has become an integral part of our globalized world, with millions of people crossing borders every year for business, leisure, and other purposes. One essential aspect of international travel is understanding the rules and regulations surrounding passenger baggage. These rules ensure the safety and security of travelers, promote efficient customs procedures and protect each country’s economic interests. The fundamental rules and considerations for exporting and importing passenger baggage worldwide: Each country has its own set of rules and Read Full Details…

May 18

Know about the Dimond and Gold Export Import Law worldwide

The global diamond and gold trade is a thriving industry, with countries around the world involved in the import and export of these precious commodities. However, to regulate this trade and prevent illicit activities, there are various laws and regulations in place. This article aims to provide an overview of the import-export laws related to diamonds and gold worldwide. Understanding the import-export laws and regulations related to diamonds and gold is essential for individuals and businesses engaged in the global Read Full Details…

May 15

Know about India’s Dynamic Trade Policy Created History in Foreign Trade

India has long been a hub of international trade and commerce, dating back to ancient times when it served as a major trading center for spices, textiles, and other goods. Today, India is one of the world’s fastest-growing economies and a major player in the global trade landscape. The country’s dynamic trade policy has been a key driver of this growth, allowing Indian businesses to expand their reach and compete on a global scale. Over the past few years, India’s Read Full Details…

May 09

Know about the Import Goods Clearance Procedure in Custom Ports

Importing goods into a country requires following certain legal procedures and obtaining clearance from the relevant authorities. In this article, we will discuss the import goods clearance procedure in custom ports, including the steps involved and the documents required. Step 1: Filing the Import Declaration The first step in the import goods clearance procedure is filing the import declaration. This document provides information about the imported goods, including their quantity, value, and classification. The importer needs to file this document Read Full Details…

May 09

Know about the Export Goods Clearance Procedure in Custom Ports – import export broker or CHA

Exporting goods to other countries can be a complex process, and one of the most important steps in this process is customs clearance. When exporting goods, it is necessary to go through a customs clearance procedure at the customs port. The procedures and documentation required for the clearance of export goods at custom ports, import export broker or CHA plays important role in cutoms clearance The customs clearance procedure for export goods varies depending on the type of goods and Read Full Details…

May 09

Know about the Worldwide Customs Import Duty Structures

When goods are imported from one country to another, they are subject to customs duties, which are fees that the importing country imposes on the goods to raise revenue and protect domestic industries. Customs duties can vary widely depending on the product being imported and the country where it is being imported. Here’s a brief overview of the worldwide customs import duty structure: Tariff Rates: Tariff rates are the most common type of customs duty, and they are applied as Read Full Details…

May 09

Know about the Worldwide Customs Import Duty

When importing goods from one country to another, import duties are often levied on the goods. These duties are imposed by the customs authorities of the importing country and are meant to protect the local economy and industries from foreign competition. Understanding the import duty structure can help importers and exporters plan and budget for their international trade activities. Import duties can be calculated in different ways, but generally, they are based on the value of the imported goods, the Read Full Details…