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Difference

CA Harit Kapoor (Chartered Accountant) (71 Points)

11 August 2011

What is the difference between bill of entry and a bill of lading?

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vishnupriya (CA Final) (1418 Points)
Replied 11 August 2011

bill of lading is used to acknowledge the receipt of shipment of goods whereas bill of entry/shipping bill is a declaration which accompanies the parcel.

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RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 11 August 2011

thanks Pearl,

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.

BILL OF LADING PUBLISHED BY SHIPPING LINES,

A bill of lading is a type of document that is used to acknowledge the receipt of a shipment of goods. A transportation company or carrier issues this document to a shipper. In addition to acknowledging the receipt of goods, a bill of lading indicates the particular vessel on which the goods have been placed, their intended destination, and the terms for transporting the shipment to its final destination.

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CA Harit Kapoor (Chartered Accountant) (71 Points)
Replied 11 August 2011

thanks a lot, but one more thing- One of the essential documents for an importer while filing a bill of entry is the bill of lading. So how does he get this bill of lading when this was issued by the shipper to the foreign supplier?? Is the original bill of lading issued to the importer?

vishnupriya (CA Final) (1418 Points)
Replied 11 August 2011

yes original and non negotiable bill of lading is sent to Importer along with goods. The Importer has to file bill of entry along with bill of lading to clear goods. Please refer this site for more clear explanation:

https://www.cbec.gov.in/customs/cs-manual/manual_3.htm

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