The Bill of Lading comes in handy if there is any asset theft. Bill of Sight is a declaration from the exporter made to the customs department in case the receiver is unsure of the nature of goods being shipped. The Bill of Sight permits the receiver of goods to inspect them before making payments towards applicable duties.
Applying for a bill of sight becomes necessary as it acts as a substitute document if the exporter does not have all the must-have information and documents needed for the bill of entry. Along with the bill of sight, the exporter also needs to submit a letter that allows for the clearance of goods by customs.
Depending on the terms of payment between the exporter and importer, the order is dispatched only after the exporter has this letter of credit. Also Read: Types of Letter of Credit. Bill of Exchange is an alternative payment option where the importer is to clear payments for goods received from the exporter either on-demand or at a fixed or determinable future.
It is similar to promissory notes that can be drawn by banks or individuals. You can even transfer a Bill of Exchange by endorsement. Businesses must have an export license that they can provide to customs in order to export or forward any products.
This only needs to be produced when the shipper is exporting goods to an international destination for the very first time. This type of license may vary depending on the type of export you intend to make. This can be done by applying with the licensing authority, and the permit is eventually issued by the Chief Controller of Exports and Imports. Warehouse Receipt receipt is generated once the exporter has cleared all relevant export duties and freight charges post customs clearance.
This is needed only when an ICD in involved. Health Certificate is applicable only when there are food products that are of animal or non-animal origin involved in international trade. The document certifies that the food contained in the shipment is fit for consumption by humans and has been vetted to meet all standards of safety, rules and regulations prior to exporting. This certificate is issued by authorised governmental organisations from where the shipment originates. After filing a bill of entry along with the other necessary documents, assessment and examination of goods are carried out by concerned authorities.
Once the process is completed, an importer can avail for ITC claim on goods. There are certain items that cannot be freely imported in India, an import license is a permission granted by the government to undertake import activities for restricted goods.
In order to avail the benefits, one must file an application to the licensing authority. An Insurance Certificate is a document required for import customs clearance. This certificate helps the authorities to verify the shipment, in terms of whether the selling price contains the insurance or not.
Also, it helps determine the precise value which eventually decides the import duty aggregate. It has to be filed as per the terms stated in General Agreement on Tariff and Trade.
Following are some of the requirements for filing this document. There are different procedures for removing Export consignments to the Port, following the AR4 procedure, but it would be advisable to get the consignment sealed by the Central Excise authorities at the factory premises itself, so that open inspection by Customs authorities at the Port can be avoided. If export consignments are removed from the factory of manufacture, following the AR4 procedure, claiming exemption of excise duty, there is an obligation cast on the exporter to provide proof of export to the Central Excise authorities.
After assessment of the shipping bill and examination of the cargo by Customs where required , the export consignments are permitted by Customs for ultimate Export.
With these authenticated shipping documents, the Exporter will have to negotiate the relevant export bill through authorized dealers of Reserve Bank, viz. Under the Generalized System of Preference, imports from developing countries enjoy certain duty concessions, for which the exporters in the developing countries are expected to furnish the GSP Certificate of Origin to the Bankers, along with other shipping documents.
The negotiating Bank will scrutinize the shipping documents and forward them to the Banker of the importer, to enable him clear the consignment. It is expected of such authorized dealers of Reserve Bank to ensure receipt of export proceeds, which factor has to be intimated to the Reserve Bank by means of periodical Returns.
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Related Books Free with a 30 day trial from Scribd. Related Audiobooks Free with a 30 day trial from Scribd. Documentation for opening and closing advance licences 1. Roll No. A in the field of Finance is an authentic record of our work carried out under the able guidance of Mr. B Chatterjee. Amit Garg M. A Univ Roll No. B 3. Acknowledgement If a deed, however humble helps you on your way to go, seek the one whose hand has helped you seek him out and tell him so.
No individual effort, big or small can ever be realized without co effective support of proverbial friends , and guides. I consider myself exceptionally fortunate that I had indulgent guides , taught philosopher s and caring friends to successfully steer me through one of the most challenging assignment of my academic career. Today when my endeavor has reached its fruition, I look back in mute gratitude to one and all without whose help, I am sure; this reality would have remained a dream.
We are greatly indebted to Dr. Rajesh Vathkar College Project Guide for giving us his invaluable support and innovative ideas. We would like this opportunity to express our deep gratitude to Mr.
Vijay Shrivastava Excise officer and the project Guide Crompton Greaves for kind concern towards our work on this particular topic.
On the way leading to the completion of or project, a lot of difficulties were face, but we were always motivated by the proverb Where there s a will there s is a way. However, above all this, it was the guidance and supports of our project guide Mr. Here we get the pleasure to present our cordial thanks to them. We also present our gratitude to all the faculty members of the Finance Department for this encouragement and support.
Above all, I thank God for making this mortal venture possible. Contents Sr. Topic Page No. However, such inputs shall be subject to the payment of additional customs duty equal to the excise duty at the time of import.
Reference: Notification No. Annual Advance License - Manufacturer exporter with export performance of Rs. Export House, Trading House, Star Trading Houses and Super Star Trading Houses Holding the certificate as merchant exporter where they agree to the endorsement of the name s of the supporting manufacturer on the relevant annual advance license shall also be entitled for the annual advance license.
Such annual advance license shall be issued with positive value addition without stipulation of minimum value addition. Imports against this are exempted from payment of 5. Above is the meaning of Advance Licence. But our project is related to the preparation of document for opening and closer of Advance Licence. But for taking Advance Licence and then closing only some of the document is required. For opening or taking of advance Licence its include following document: i. Exporter detail.
Export product detail. Import material detail But for closer of advance Licence it s included: i. ARE-1 ii. Shipping Bill. Bill of Lading. Bank Realisation Certificate This all document can explain in the theoretical background. This is done for the benefit of duty free import for the purpose of export.
Crompton Greaves is a multinational company. It s manufacturing not only big equipment but also small equipment like household Equipment its include fans, tube light etc. The company had acquired better position in the world. I have chosen the transformer division because crompton greaves is a first Indian multinational company in the world. We choose this topic for project because in present scenario of Indian market and under globalization the imports of raw material and exports of finished product is provide better return on investment due to tax and duty benefits in various applicable acts.
Transport facilities are available from each and every corner of Bhopal and other near by places. Duration This project was completed in about 2 months. Because to take Advance Licence the whole process is quit long. My project is started from 9th of June with the Crompton Greaves Limited Mandideep and completed on 31st July Handling of project 7. I am carrying out this project with the help of my trainer.
This is started from the requirement of the product for manufacturing the finished product. Primary Objective. Secondary Objective. Primary Objective: - Primary Objective is that objective which is most important for every topic. This is related to the main function of the topic. There are following primary objective of the project. The main Objective of this topic is that for the benefit of duty free import for the purpose of export.
To avail maximum export benefit. Reduction in material cost through duty free import against export. To double or increase our percentage share of global merchandise trade within the coming years in export of the product. Secondary Objective: - These objectives are least than the primary objective. Following are the secondary objective of the project.
Advance Licence has a commitment to function as a facilitator of exports and imports. The focus is on good governance, which depends on clean, transparent and accountable delivery system. An advance licence is issued to allow duty free imports of inputs, which are physically incorporated in the making normal allowance for wastage. The facility of advance licence shall be available where some or all of the inputs are supplied free of cost to the exporters. Scope of the project There is a wide scope of documentation of opening and closing of advance licence.
There are issued for the physical exports, intermediate exports, deemed exports. They include the following points. This plant is a manufacturing unit of Transformer.
A transformer is nothing but a electric device that transfer energy from one circuit to another by magnetic coupling with no moving parts. This plant can manufacture different type of transformer and exports this to the various countries.
For manufacturing transformer there are many types of material and parts are used. But some the material and parts are import from the other countries. So for duty free import this advance licence is prepared. Vertical Winding Machines Max capacity 20 Tones 6. To become the company of choice for utilities, industries and household in the global market by leveraging technology and productivity through a highly empowered and engaged team.
Control and Automation Projects for Substation. Railway Traction Substation. Railway Overhead Electrification. Brushless DC Carriage Fans. Railway Signalling Products Signalling Relays. Point Machines. Universal Axle Counters. Data Logger. Incandescent Lamps. Reflux Lamps, Reflux Systems. Halogen Lamps.
Luminaries and Accessories Mirror Optics. Street Lights, Flood lights. ABB 2. BHEL 3. AMCO 5. Fax: E-mail: dileep. Tel: E-mail: jayant. E-mail: venkatesh. E-mail: somesh. E-mail: raina cgl. P Tel: , , Tel: , E-mail: harsh. E-mail: vijay. Tel: , Fax: E-mail: subash. Fax: e-mail: anr cgl. Fax: e-mail: manoj. Fax: e-mail: cgi cgl. Fax: e-mail: vineet.
Fax: e-mail: vinesh. Fax: e-mail: sagar. Fax: e-mail: raguhvir. Fax: e-mail: mailadmin cal. Fax: e-mail: bibhu. Fax: e-mail: tahilyani. In fact, the first unit of electricity was generated on a "Crompton Dynamo" at Calcutta in A pioneering leader since in the management and application of electrical energy, Crompton Greaves, today, is India's largest private sector enterprise, extensively engaged in designing, manufacturing and marketing high technology electrical products and services related to power generation, transmission, distribution as well as executing turnkey projects.
The company is customer centric in its focus and it is the single largest source for a wide variety of Crompton founded R. The company merged with F. A Parkinson in the year to form Crompton Parkinson Ltd. In , CPL established, its wholly owned Indian subsidiary viz.
Crompton Parkinson Works Ltd. In the year , with the dawn of Indian independence, the company was taken over by Lala Karamchand Thapar, an eminent Indian industrialist.
Crompton Greaves is headquartered in a self-owned landmark building at Worli, Mumbai. This acquisition catapults the company amongst the top 10 transformers in the world. It has truly transformed into an Indian MNC making a long cherished dream finally come true.
Besides strengthening its foothold in the Indian market, Compton Greaves acquisition of the Pauwels Group and its transformer manufacturing facilities in five countries is expected to provide a significant impetus to the company s international presence. Crompton Greaves is perhaps the only Indian Company to conclude an acquisition of such magnitude, making its presence felt with manufacturing facilities over a wide geographical spread over five countries.
The additional turnover of approximately Rs. Today, with the acquisition of the Belgium-based Pauwels group and its transformer manufacturing facilities in five countries, Compton Greaves has positioned itself in the global market as a truly Indian MNC.
Since its incorporation in , as one of India largest private sector enterprise, Compton Greaves has been a name that has become almost synonymous with electrical engineering products. The company is a one stop for designing, manufacturing and marketing of high technology electrical products and services related to power generation, transmission, distribution as well as execution of turkey project. The three Strategic Business Groups are: Power Systems Industrial Systems Consumer Products Compton Greaves has been a transformation from a national business entity to an aggressive world-class player.
Expanding its services to foreign shores, the company is now emerging as a preferred choice in the global market for high quality electrical equipment. All the financial parameters have shown consistent improvement for the last three years, endorsing the company s sound financials.
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