IGNOU : M.COM : IBO 4 : UNIT 14 : Q - 2. Describe various types of bills of entry. What documents are to be enclosed with Bill of Entry ?

 

Ans. Types of Bill of Entry

Four copies of bill of entry are submitted; original and duplicate for customs departments, triplicate is owner's copy and fourth is for foreign exchange purposes to be submitted to bank. There are three types of bill of entry.

i) Bill of entry for home consumption (white in color) Where an importer wants to get his goods-cleared in one lot, he has to present the Bill of entry for home consumption.

ii) Bill of entry for warehousing (Into bond, yellow in color). Where an importer wants to shift goods to a warehouse ., and thereafter gets his goods cleared in small lots, he bas to present 'into bond' bill of entry. Reason may be that he is unable to pay duty leviable on all goods at one instance or may be because of storage problem.

Public warehouses run by Central Warehousing Corporation and by Slate Public Warehousing Corporation are available at all major centers. For capital goods intended for use in 100% export oriented units the warehousing period limit is five years. In all other cases warehousing is allowed only for one year. Extension of warehousing period cannot be granted if application is received after the expiry of the earlier allowed warehousing period.

iii) Ex-Bond Bill of Entry (Green in Color): When an importer wants to remove , goods from the warehouse, he has to present an Ex-bond bill of entry which is green in color.

Advance Bill of Entry: In order to expedite clearance of goods, it is permissible now to file the bill of entry 30 days in advance of the expected arrival of the concerned ship/aircraft carrying imported cargo. In such situation, importer would not be in a position to give vessel name, IGM no., etc. so much in advance. Therefore, he can leave these columns blank to be filled later by the customs department. however, all the necessary documents are to be enclosed with it. But if the ship/aircraft does not arrive within 30 days, the advanced cleared bill of entry would cease to be a valid document and a Fresh bill of entry have to be filed by the importer.

Documents to be Enclosed with Bill of Entry

1. Invoice

 2. License, if required

 3. Packing list

 4. Insurance policy.

 5. Delivery order

6. Letter of credit/bank draft

7. GATT declaration.

8. Importer declaration

9. Certificate of origin

10. Any other document depending upon goods