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Export charges:
A limited number of items, mostly primary commodities or processed
agricultural products, are subject to duties. Currently, the only
products subject to an export tax (at the rate of 10%) are goat, sheep
and bovine leathers. Products may also be subject to a minimum export
price. The list of products subject to minimum prices includes basmati
and non-basmati rice, cotton, and hard and soft cotton waste. Most
minimum export prices are specified in dollars on an fob basis.
Settlement of Bills: The Government prescribes conditions for exchange
control and settlement of bills related to exports under the authority
of the Foreign Exchange Regulation Act, 1973. For normal commercial
exports to all countries, except Nepal and Bhutan, exporters are
required to complete the GR Form in duplicate. The GR Form covers
exports not made by post.
With few exceptions, all exports must be declared on the appropriate
form and the exporter's code number as assigned by the Reserve Bank of
India must be shown on the form.
The payment arrangements are letter of credit, sight draft, time draft
and shipment on consignment. The time limit for settlement of export
proceeds, that is, the amount representing the full export value of the
goods, is six months. A maximum of 15 months is allowed for exports to
Indian-owned warehouses abroad.
Documents: The following documents are required for
exports:
- GR form;
- export licence;
- export declaration;
- customs entry form;
- customs invoice;
- commercial invoice;
- certificate of origin;
- bill of lading/air waybill;
- packing list.
Special documents may be required
depending on the type of product or destination. Certain export products
may require a quality control inspection certificate from the Export
Inspection Agency. Some food and pharmaceutical product may require a
health or sanitary certificate for export.
To cover products under GSP (generalized system of preferences) a
certificate of origin may be required. The Export Inspection Agency, the
various export promotion councils, chambers of commerce or the regional
offices of the Chief Controller of Imports and Exports are the
responsible bodies for issuing the certificate of origin.
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