Customs data India

by Micky B. Professional Writter

The customs department of India is responsible for monitoring the export and import transactions. They ensure that the goods leaving the country and entering the country are allowed for export or import. The collections of and levy and excise duties and import duties are also over supervised and implemented by the customs department. They have nodal offices at two hundred sea ports in India. Every international trade transactions is recorded with the help of computer applications. The data so accumulated is then transferred to a central server where the entire database for the country’s import and export transactions is stored. Periodically the customs department released the customs data India which gives information of all imports and export made by the country.

Customs data India consists of the name of the importer or exporter, the product description, HIS code of the product, its variety or product specifications, quantity, rate per piece/Metric Tons/Kilograms, etc. HIS code is the unique code applied to a product so that it is identified uniformly all over the world. It helps avoid confusion and interchangeability of products that can lead to complexities in international trade transactions. This customs data is prepared by customs officials with the help of official documents submitted by traders. The documents involve in case of an import include bill of entry, commercial invoice, import license, product manifesto, letter of credit, insurance papers, etc.

Since international trade is strictly monitored by the central government authorizes and requires stringent exercising of international trade norms, every product is allowed to be imported into a country only after getting an import license. The import license will be issued by the customs department allowing the goods to enter the country. Proper checking and verifications will be done before allowing the goods to enter the shores. This is to ensure that no illegal or banned goods are being imported into the country by smuggling or by unfair means.

A letter of credit is a form of financing for international trade. An importer draws a letter of credit from the bank in which he holds his account and provides it to the bank. The letter of credit is an assurance given by the bank that the importer has sufficient balance in his account and his dues will be paid on submitting the shipment documents or invoice. The export can encase the letter of credit in his bank and receive the money instantly or wait for the transaction to get over and get it enchased from the import’s bank.

For more information about Indian customs data, custom import data, custom export data and much other information about export import data, go to www.seair.co.in.