24 May 2011
For clearance of import goods, the importer or his agents have to undertake the following formalities:- Bill of Entry
It is a document certifying that the goods of specified description and value are entering into the country from abroad.
If the goods are cleared through the (Electronic Data Interchange) EDI system no formal Bill of Entry is filed as it is generated in the computer system, but the importer is required to file a cargo declaration having prescribed particulars required for processing of the entry for customs clearance.
The Bill of entry, where filed, is to be submitted in a set, different copies meant for different purposes and also given different colour schemes. Bill of Entry are of three types :-
Bill of Entry for home consumption: is to be submitted when the imported goods are to be cleared on payment of full duty for consumption of the goods in India. It is white colored.
Bill of Entry for Warehouses : is to be submitted when the imported goods are not required immediately by the importer but here they are to be stored in a warehouse without payment of duty under a bond and cleared later when required on payment of duty.
Bill of Entry for Ex-Bond Clearance : is used for clearing goods from the warehouse on payment of duty. The goods are classified and valued at the time of clearance from the Customs Port. Value and classification are not determined on such Bill of Entry.
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