BILL OF ENTRY

• EVIDENCE OF IMPORT IN TO INDIA & ITS FOLLOW-UP

EVIDENCE FOR IMPORTS• Submission of evidence for imports is

a must for Importers• FOREX not to be remitted for

fictitious Imports• Goods for which FOREX was

remitted should be Imported into India.

• ADs not to have a laxity in follow-up of evidence for Imports

• REF; AP;DIR;01 DT.12/07/2005 & ID CIR 51/2005 DT 24.10.2005

WHAT CONSTITUTES EVIDENCE FOR IMPORTS

• Imports by SEA/AIR

• Imports by 100% EOU,SEZ,EPZ

• Imports -By courier• Imports -By Post

• Imports-In Non- Physical form

• BE-Home Consumption copy marked ‘EC purposes’

• BE-In bond/ warehousing• Bill of Entry • Customs Assessment

Certificate/Postal Appraisal Form

• Certificate by a CA

POSTAL IMPORTS• Postal Appraisal Form

or Customs Assessment Certificate as declared by the Importer and certified by CUSTOMS is the evidence for Imports through Postal Mode

COURIER IMPORTS• If value of Import is less

than Rs 1 lac, attested copy of BE filed by the courier company will suffice

• If value is Rs 1 lac and above, EC copy of the BE filed filed by the importer to be submitted

ADVANCE REMITTANCES� Import of capital goods to be

made within 3 Years from date of remittance

� Import of other goods within 6 months from remittance date

‡ BE within 15 days of clearance of goods.

‡ Extension of period for submission > 1 month on merits

HIGH SEAS SALES

• BE shall be filed by the 2nd buyer

• But BE to be submitted to AD by original Importer

• endorsed as` Imported by --- and sold to --- on high seas sales basis’ in the BE.

• Original HSS agreement verified and certified copy retained

IMPORTS -On Sight payment terms

• Sight bills under LC/Collection ,

• >>BE to be submitted latest within 3 months from date of remittance

• Also ref ID cir 62/04

IMPORTS- Direct Bills• Import made directly by

the Importer subject to EXIM Policy and Exchange Control guidelines

• >> No remittance without submission of Original EC Copy of Bill of Entry/other evidences

• also ref to ID cir 62/04

IMPORTS-ON USANCE TERMS• Generally BE to be submitted

while effecting remittance for Imports on usance terms

• Based on reasons like late arrival of vessel, delay in clearance of cargo,hassles with customs authroties etc, an additional time not exceeding 3 months may be given provided AD is satisfied.

BILL OF ENTRY MONITORING• Receipt of BE to be

acknowledged in IF 1851• Facts entered in the register• BE preserved under dual control• 100% verification by internal /

RBI inspectors• preserve for 1 year after

verification• ED purview cases to be preserved

till clearance

BILL OF ENTRY-Scrutiny• To be checked for• FOB value• Description of goods• Quantity/BL/AWB No.etc.• Not to accept any shortfall• Minor variations towards

freight,Insurance be ignored in case of Air Consignments

Bill of entry Follow-up• FOR AMOUNT EXCEEDING

USD.100,000 PER TRANSACTION• IF 1638 on the due date• IF 1639 (2nd reminder) Regd. One

month from due date• IF 1639(3rd reminder) Regd AD

by one month from 2nd reminder• Report in BEF as per norms.• detailed study in case of regular

defaults.• report to RBI in case of suspicion.

• Companies with NW more than Rs 100 crores can submit alternative evidence like Auditor’s Certificate, Certificate by the CEO for imports valued less than USD 1 Million.

• This relaxation is now extended to Autonomous institutions like IIT,IIS,University etc which are subject to CAG ( Comptroller & Auditor General) Audit.

• For IMPORTS up to USD 100,000 or its equivalent per transaction the AD at their discretion may accept alternative evidence like Auditor’s Certificate, Invoice, BL, Duty paid challan , Gate Pass issued by Port / Aircargo complex Authorities or any other acceptable proof along with a declaration to that effect and by complying with KYC norms as per ID Cir 62/2004 51/2005 and permit remittance or where already permitted may close their follow-up.

BEF RETURN• Default in submission of BE

beyond 6 months from remittance to be reported in BEF to RBI.

• as on June & December every year

• to include defaults for Imports exceeding value USD100,000

• within 15 th of the due date• In-Bond BE submitted pending

assessment of duty shall not be treated as a default.