Legal Advice for Importers before they Import their First Consignment in India: Best Customs Lawyer Advice in Delhi NCR

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“Imports & exports in India is/are primarily governed by the Customs Act of 1962 respectively. Having said that for want of knowledge and due to lack of legal awareness the Importers in India are largely dependent upon their Forwarding Agents or CHAs for the import of goods in India. There are a lot of applicable laws upon Importers and Importers are subject to legal liabilities which they have to fulfil.

Due to non-compliances of the statutory provisions sometimes the Importers are subject to fine and penalties and to avoid them they should obtain a prior legal advice from the best import export attorney or import export law firm or from the best customs lawyer respectively.”

Companies participating in export-import must be diligent in handling numerous custom export-import laws and regulations in this era of globalisation. The Customs Act, 1962, and related rules are the main law in India for levying and collecting customs duty. It covers duties on imports and exports, import or export procedures, goods import and export limitations, penalties, and violations, among other things. The Constitution has granted the Union the legislative power and collect import and export tariffs. The Central Board of Excise and Customs (CBEC) is the supreme authority in the field of customs. The Central Board of Excise and Customs (CBEC) is a division of the Department of Revenue in India’s Ministry of Finance. It is in charge of formulating policies for the imposition and collection of customs duties, as well as the prevention of smuggling and duty evasion, as well as all administrative problems surrounding customs formations.

Important legal advice for Importers: Best Customs Lawyer Advice for Importers
A country’s trade policy is incomplete without trade agreements. WTO members can enter into free trade agreements under Article XXIV of the GATT, in which they offer each other reciprocal and mutually rewarding tariff and non-tariff concessions. The ASEAN-India Free Trade Agreement, the SAFTA Agreement, the India-Japan Comprehensive Economic Partnership Agreement, and the India-South Korea Comprehensive Economic Partnership Agreement are among India’s most extensively used trade agreements. A Certificate Of Origin (COO) issued by the designated authority of the exporting country is necessary for goods imported under a trade agreement. The COO comprises information about the products covered and whether or not the originating criteria were met.

Documents Required for Import of Consignments & Shipments in India
Operational certificate Procedure(OCP) : Best Legal Advice from Import Export Law Firm
A trade agreement’s parties select one or more authorities to issue COO. If an exporter wants to obtain FTA benefits, he or she must apply for a COO from the relevant Issuing Authority. The exporter’s application for COO should be accompanied by supporting papers that show he meets the originating criteria he claims. COO is issued by the Issuing Authority in the form and manner specified in the trade agreement. The original copy of the COO is sent by the exporter to the importer in the importing country. Electronic COO is permitted in some FTAs. During the import clearance of goods, the importer presents the COO to customs. When a customs officer has doubts about the COO’s legitimacy or the veracity of the information included therein, he sends a verification request to the exporting country’s designated authority.

A Bill of Entry: A Bill of Entry is a legal document that describes the goods being imported. It’s a crucial document since customs officers need it to confirm the contents of a cargo and any restrictions that may apply. It’s a legal document that shows the country’s total outward remittance, which is regulated by the customs department.

Bill of Landing: When products are delivered to a predefined location, it serves as a shipment receipt. It is used to transport goods by sea. The distinction between the Bill of Lading and the Airway Bill must be understood by the importer.

Commercial invoice: It is given to a customer by a supplier in order to provide complete data of commercial transactions between the two parties. It’s a crucial document that the customs office uses to determine the value of products and maintain track of them. The invoice is a document that specifies the terms of delivery of goods. It also serves as proof of sale. It is needed to prove your case in the evidence stage. Before importing items, make sure you have a legally binding commercial invoice.

Airway Bill: It serves as proof of receipt of goods and that the shipment was delivered in good condition to the recipient. It serves as a freight bill that is billed along with supporting paperwork. It must be presented in order to clear import customs. It is used to carry things via air.

Import licensing: Import licencing protects enterprises involved in international trade from legal problems and financial losses. In a nutshell, it’s a way for an importer to start a business on a global scale. It serves as the foundation of the import process.

Cargo Insurance: The value of your goods can be protected by insuring them against any losses that may occur while they are in transit. It serves as a protective shield, ensuring safety and security. The items must be insured against theft, fire, and accidental damage by the importer.

Certificate of Origin: This is a crucial document since it can help decide if certain items are eligible for import or whether they are subject to duties. It is used to track the country of origin of imported goods. The origin certificate is attached to imported items.

Due Diligence as per Customs Act
By virtue of clause 110 of the Finance Act of 2020, Chapter VAA and section 28DA were added to the Customs Act of 1962. The new clause, among other things, requires an importer to perform basic due diligence to ensure that the claimed originating criteria are met, and that simply submitting a Certificate of Origin may not be adequate. The importer must have relevant origin-related information for this purpose. In the event of a doubt about the provenance of goods, the importer will now be the first point of contact, shifting from a G2G to a B2G model. Section 28DA further allows for foreign authorities to verify a claim’s origin, a temporary suspension of preferential treatment, and conditions in which a claim or certificate can be denied.

Arbitration Clause
An Arbitration Clause will be included in the importer agreement. The location of the arbitrations must be specified in the arbitration clause. The agreement must also state whether the parties choose ad hoc arbitration or institutional arbitration. Whether the arbitration will be conducted by a single arbitrator or by an odd number of arbitrators.

Conclusion
Commercial transactions are massive, complicated, and often dangerous to handle. The Importer’s Agreement and the Documents Required for the Importer’s Agreement can be found in any commercial transaction.
Authored By: Adv. Anant Sharma & Afsana Khan

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