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Role of Customs Clearing & Forwarding (C&F) Agents

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Shipping is the most typically used method of dispatching goods to a foreign us of a. under cargo, one shall cover all the procedural aspects from the time the product intended for export leaves the manufacturing facility site till it is loaded on board the deliver and the relevant files are amassed from the transport company. since the sort of paintings worried is relatively specialized it is usually entrusted to the clearing and forwarding retailers. This phase attention on position of clearing and forwarding sellers in export undertaking. 1. Customs Formalities Goods may be shipped out of India most effective after acquiring the customs clearance. To attain the customs clearance, the clearing and forwarding agent have to publish a transport bill in the prescribed form. The transport bill is to be prepared in quadruplicate. The shipping payments must be followed through the subsequent documents. contract with the remote places buyer in unique. bill for the products. Packing listi...
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New rule to encourage use of electronic cargo tracking system

In a bid to facilitate the implementation of electronic cargo tracking for third country imports, Nepal Rastra Bank has allowed commercial banks to issue payment instruments in foreign currency for cargo transported by railway to Birgunj dry port and Biratnagar customs point only. Earlier, banks were allowed to issue payment instruments for cargo dispatched to other customs points on the Nepal-India border too. Nepal Rastra Bank published a circular containing the new provision on Monday. The central bank said the policy followed the government’s move to implement the electronic cargo tracking system and transshipment facilities. Currently, electronic cargo tracking and transshipment facilities only apply to shipments transported by Indian Railways to Birgunj and Biratnagar. As per the new provision, banks cannot issue letters of credit, drafts or telegraphic transfers to traders importing goods using the Indian railway network. Banks issue these instruments to allow importer...
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Import, export clearance time cut by 300 hours, says Customs

The Central Board of Indirect Taxes and Customs chairman Pranab K Das on Thursday said “various initiatives” have resulted in a reduction of approximately 300 hours in import and export clearance time and cut down transaction costs. “This year’s theme of World Customs Organisation for the International Customs Day is smart borders for seamless trade, travel, and transport. The theme reverberates with the various reform measures that Customs have initiated in the context of reducing transaction time and costs of import and export clearance coupled with intensive trade as well as passenger facilitation efforts,” Das said in his address ahead of the International Customs Day on January 26. Das said 2018 deserves a special mention as India secured an all-time highest rank of 77 in the Ease of Doing Business rankings. He said there was a “quantum jump” in India’s Trading Across Borders ranking from 146th to 80th, the highest by any nation. He said some of the reform measures include...
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APM Terminals Inland Services receives Environmental Clearance for handling hazardous chemicals – a first for an ICD in India

APM Terminals Inland Services’ integrated Inland Container Depot (ICD) and supply chain solutions facility at Chakan, Pune has been awarded the Enviromental Clearance (EC) certificate by the Minisitry of Environment, Forest and Climate Change – a first for an ICD in India. This certification authorizes the Pune facility to store, handle, transport, and deliver hazardous chemicalsin any form – a critical requirement for all industries dealing with chemicalsin domestic & international trade; and a safeguard for the environment. “The certification of the Chakan facility lays testimony to the capabilities and standards built by APM Terminals Inland Services to address a pressing industry need ahead of the growth curve,” explains Ajit Venkataraman, APM Terminals Inland Services, South Asia Managing Director. India is the third largest chemical producer in Asia and its domestic Industry is projected to reach $403 Bn by 2025. The growing gap between the urgent need for qualified ser...
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Nepal seeks transshipment privileges at Kolkata port

Containers sent from Vishakhapatnam are transported directly to the Birgunj Inland Container Depot. This facility is not available for consignments leaving Kolkata port. The ECTS uses the Global Positioning System, a satellite-based radio navigation system, and allows the shipper to keep track of consignments. Traders have to pay Rs4,200 extra per container to fit the ECTS. But it helps to reduce the overall cost of trading since they can avoid paying demurrage and detention charges because cargo movement is faster. The ECTS was implemented as a pilot project at Kolkata port last April. The scheme had to be discontinued because Indian shippers were not keen on using it, traders said. According to the Ministry of Industry, Commerce and Supplies, a large number of containers dispatched from Kolkata port lack the ECTS and transshipment facilities. Importers have to produce letters of credit and paperwork issued by the Department of Commerce and the Nepali Consulate Gener...
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Yes Bank Transformation Series 2018: Helping Indian MSMEs leverage tech to boost exports

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The past decade has witnessed an exponential rise in the adoption of smartphones, internet connectivity and e-commerce. This has subsequently opened up the entire country to smaller retailers and manufacturers. In this backdrop, with the rise of micro, small and medium enterprises (MSMEs) adopting e-commerce, the next pillar of sustained growth will be to tap into global markets. Invest India, the National Investment Promotion and Facilitation Agency of the government of India (under the Department of Industrial Policy and Promotion), partnered with Yes Bank Transformation Series, will present this challenge to the brightest minds across B-schools and tech institutes for crowd sourcing perspectives and solutions on how MSMEs can build momentum on growth and capture opportunities presented by global markets. Yes Bank Transformation Series, which has emerged as an idea crowd sourcing platform has partnered with national institutions over the last three years, seeking ...
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Location: India
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