Mandatory Documents Required For Export And Import Reduced To Three Each

Pursuant to India being ranked 142 in ‘Trading Across Borders” component of “Ease of Doing Business”, out of 189 countries ranked by the World Bank, in its 2015 Report based on the number of mandatory documents required for export and import Ministry of Commerce decided to reduce the number of mandatory documents required for export / import. The Directorate General of Foreign Trade issued a Notification to this effect on 12th March 2015.

The RBI has agreed to do away with the ‘Foreign Exchange Control Form i.e. ‘SDF’ by incorporating the declaration in the ‘Shipping Bill’ (for exports) and dispensing with the ‘Foreign Exchange Control Form i.e. Form A-1 (for imports). Customs has agreed to merge the ‘Commercial Invoice’ with the ‘Packing List’ incorporating the required details of both the documents and has issued a Circular to that effect. However, the exporters and importers, have the option of filing separate ‘Commercial Invoice’ and ‘Packing List’ also, if they so desire. Shipping Ministry has also agreed to do away with the requirement of ‘Terminal Handling Receipt’ and make the process online.

As a consequence only 3 documents would be mandatory for export and import as under:

MANDATORY DOCUMENTS FOR EXPORT & IMPORT

Sr. No.

EXPORTS

IMPORTS

1.

Bill of Lading/ Airway Bill

Bill of Lading/ Airway Bill

2. 

Commercial Invoice cum Packing List

Commercial Invoice cum Packing List

3.

Shipping Bill/ Bill of Export

Bill of Entry

 

Document such as ‘Cargo Release Order’ is not mandatory required by a regulatory agency, but is a commercial document issued by the Shipping line to the concerned importer. Documents such as ‘Technical Standard Certificate’/ ‘Certified Engineer’s Report’, ‘Product manual’ and ‘Inspection report’, are required in specific cases/products/tariff lines only and are not mandatory for all products. The reduction in the number of mandatory documents would also lead to corresponding reduction in Transaction cost and time.

Share Button