Editing Content :: Admin Scraper

Chapter

Content type

Position

Value

266 BUSINESS  STUDIES or refund is to provide an incentive to captain of the ship that the specified the exporters to export more and also goods after their customs clearance at to make the export products more a designated port be received on board. competitive in the world markets. (xi) Packing and forwarding: The The refund of excise duty is known as goods are then properly packed and duty drawback. This scheme of duty marked with necessary details such drawback is presently administered as name and address of the importer, by the Directorate of Drawback under gross and net weight, port of shipment the Ministry of Finance which is and destination, country of origin, etc. responsible for fixing the rates of The exporter then makes necessary drawback for different products. The arrangement for transportation of work relating to sanction and payment goods to the port. On loading goods of drawback is, however, looked after into the railway wagon, the railway by the Commissioner of Customs authorities issue a ‘railway receipt’ or Central Excise Incharge of the which serves as a title to the goods. The concerned port/airport/land custom exporter endorses the railway receipt station from where the export of goods in favour of his agent to enable him is considered to have taken place. to take delivery of goods at the port of (ix) Obtaining certificate of origin: shipment. Some importing countries provide (xii) Insurance of goods: The exporter tariff concessions or other exemptions then gets the goods insured with an to the goods coming from a particular insurance company to protect against country. For availing such benefits, thethe risks of loss or damage of the goods importer may ask the exporter to send due to the perils of the sea during the a certificate of originhe certificate oftransit. origin acts as a proof that the goods (xiii) Customs clearance: The goods have actually been manufactured in must be cleared from the customs the country from where the export before these can be loaded on the ship. is taking place. This certificate can For obtaining customs clearance, the be obtained from the trade consulate exporter prepares the shipping bill. located in the exporter’s country. Shipping bill is the main document (x) Reservation of shipping space: on the basis of which the customs The exporting firm applies to the office gives the permission for export. shipping company for provision of Shipping bill contains particulars of shipping space. It has to specify the goods being exported, the name the types of goods to be exported, of the vessel, the port at which goods probable date of shipment and the are to be discharged, country of final port of destination. On acceptance of destination, exporter’s name and application for shipping, the shipping address, etc. company issues a shipping order. A Five copies of the shipping bill shipping order is an instruction to the along with the following documents Reprint 2026-27