Explain the customs clearance via sea along with documentation formalities.

Word Count : 608

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Customs Clearance Formalities: The Law in India mandiates that no overseas carrier can load the cargo on an Indian port without the express permission of the Customs Authorities under section 40 of the Indian Customs Act.

The permission is granted to the exporter or his Clearing and Forwarding Agent by following the procedures and formalities as required under the law.

Legal Framework Section 50 of the Indian Customs Act requires the exporter to file a declaration in a prescribed form and submit support documents to enable the customs authorities to check declarations made by the exporter the objectives of the customs control are:

(i) To ensure that nothing goes out of the country against the laws of the land and that prohibetions and restrictions regarding outward cargo are duly enforced by the customs authorities.

(ii) To ensure authenticity of the value of outward cargo according to the customs vauation rules to check over and under invoicing.

(iii) To assess and realise export duty/cess/charge according to the Customs Tarrif Act and other fiscal legislation.

(iv) To check that all the relevant regulatory provisions enforced by various authorities in the country have duly complied within respect of export.

(V) To provide export data through the Customs ___________ ______ _______ _____________ _________ ____________ _________ __ ___ ______ __ _______ _____ ____ __.
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Degree : MASTER DEGREE PROGRAMMES
Course Name : Master of Commerce
Course Code : MCOM
Subject Name : Export Import Procedures and Documentation
Subject Code : IBO 4
Year : 2022 2023