Border controls have never been stronger, despite the ease of electronic filing of shipping manifests. Customs plays an ever increasing important role in controlling the inflow of products, ensuring the right duties are being paid, checking counterfeits & patent infringing products from entering the market.
While EU has relaxed norms within its member states, the entry of goods in any member state requires Customs clearance, apart from the local VAT payment. Similarly, unified Customs controls are applicable for India. It does not matter, which port you bring in the goods. With advanced electronic filing, and self assessment options, the right declaration is important. Unlike EU, where Customs Duties can be paid within a grace period of time, in India the release of goods is dependent on duty payment. Hence, it is also important to declare the correct value.
Key aspects like, declaring a CIF value on the Invoice for high value goods, need to be understood by shippers, to avoid higher landed costs and ensure correct valuation. Ensuring that the paperwork clearly describes the goods, with its HS Classification and supported by any technical documentation (if it is a first time of import), to help Customs authorities apply the right duties.
Trade IN EU (TIE) can help you formulate a Customs strategy for the right valuation, ensuring that paperwork conforms to the norms and also, understand the new compliance oriented schemes, to ensure smooth trading of your products. We can also help you identify and connect with Customs Brokerage experts both in India and EU markets, so you can manage your exports and imports in full compliance.