Home consumption

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Anu Verma (Querist)
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04 January 2012 Dear Sir/Mam,

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Wat are the formalities to clear imported goods for home consumption???

drop a file or link where I find dis answer.

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Anu Verma

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 January 2012 Home consumption Bill of entry in white colour: This has to be filed when the importer wants to clear the goods on payment of duty and remove them to his premises immediately. (Section 46 of the Custom Act 1962).

(ii) Into bond Bill of entry in buff colour: It is also known as Warehousing Bill of Entry. This has to be filed when the importer does not want to pay duty immediately but prefers to keep the goods in a warehouse and pay the duty subsequently and clear the goods for home consumption. (Section 46 and 60 of Custom Act 1962)

The main documents to be filed are the home consumption Bill of Entry in the prescribed form after filling up various columns are as under:

1. Copy of order/contract.

2. Supplier’s invoice in four copies.

3. Copy of the letter of credit.

4. Import licence.

5. Bill of lading (original and non-negotiable).

6. Packing list (2 copies).

7. Weight specification.

8. Freight insurance memo

9. Manufactures test certificate.

10. Exchange slop for purpose of exchange rate.

11. Certificate of origin.

12. Delivery order issued by shipping company, its agent or carriers.

13. If spare parts are being imported invoice should indicate unit price and extended total of each item.

14. If invoice is for FOB, freight charges and insurance premium amount certificate should be attached.

15. OGL declaration.

16. No Commission letter to be given by importer i.e., Agent’s Commission, if any has not been paid in India.

17. Customs declaration (4 copies)

18. Catalogue/write/up/drawing for machinery items.

19. Importer Exporter Code Number.

20. If second hand machinery is being imported then Chartered Engineers certificate is necessary as per the Import Export Policy

21. If steel is being imported then analysis certificate from manufacturers.

22. In the case of chemicals & allied products like synthetic resin wax, literature showing chemical composition.

23. Textile Commissioners endorsement in respect of textile items.

Apart from the above the importers are also required to file declaration in the prescribed form by the importers regarding correctness of the contents and the value of the goods, The Assessing officer may call for any other documents/information if found necessary, to determine the correct value and correct rate of duty (Section 46 and 17 of the Customs Act,. 1962)

Noted Please:

The importer/authorized agent has to file a home consumption Bill of Entry in quadruplicate in the Import Department of Customs after filling up various columns in the Bill of Entry along with documents mentioned above. The noting clerk in the Import department verifies the details furnished in the Bill of Entry with reference to the Import General Manifest and assigns a serial number and affixes the date stamp and initials it. The Bill of entry is then forwarded to the assessing officer (Appraiser/ Superintendent) for assessment. After scrutiny of the documents the Assessing officer may depending upon the circumstances, assess the Bill of Entry under two different systems known as (First appraisement (First Check), Second appraisement (Second Check)). The Bill of Entry is then counter signed by the Assistant Commissioner. Clearance of goods for home consumption is allowed after examination of the goods and on payment of duty.

noted also:

Any imported goods should be cleared for home consumption or warehoused or transshipped within thirty days from the date of unloading the goods at a Customs station or within such extended time allowed by the proper officer (Section 48 of the Customs Act 1962)
and
please Note:
Duty has to be paid within two days from the date on which the Bill of entry is returned after assessment to the Importer/agent for payment of duty. If the duty is not paid within the stipulated time, interest on amount of duty is also payable. (Section 47 of the Customs Act 1962)

Any Information please log in to:

http://www.chennaicustoms.gov.in/imports/bond.htm

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 January 2012 CLEARANCE OF GOODS FOR HOME CONSUMPTION. -

1(1) Where the proper officer is satisfied that any goods entered for home consumption are not prohibited goods and the importer has paid the import duty, if any, assessed thereon and any charges payable under this Act in respect of the same, the proper officer may make an order permitting clearance of the goods for home consumption.

2[(2) Where the importer fails to pay the import duty under sub-section (1) 3[within 4[five days], excluding holidays] from the date on which the bill of entry is returned to him for payment of duty, he shall pay interest 5[at such rate, not below 6[ten per cent.] and not exceeding thirty-six per cent. per annum, as is for the time being fixed by the Central Government, by notification in the Official Gazette] on such duty till the date of payment of said duty:

Provided that where the bill of entry is returned for payment of duty before the commencement of the Customs (Amendment) Act, 1991 and the importer has not paid such duty before such commencement, the date of return of such bill of entry to him shall be deemed to be the date of such commencement for the purpose of this section.

7Provided further that if the Board is satisfied that it is necessary in the public interest so to do, it may, by order for reasons to be recorded, waive the whole or part of any interest payable under this section.

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