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Custom Shipping and Insurance
December 2023 Examination
Q1. You are appearing for a written test as a part of the
selection process for the post of Export Import Manager in an international
organization. You need to answer the following question based on the Customs
Act 1962:
Question: List 5 points under the title “Confiscation of
improperly imported goods” (10 Marks)
Ans 1.
Introduction
The Customs
Act of 1962 stands as a seminal piece of legislation in India, governing all
matters related to customs and providing a framework for regulating imports,
exports, and duties. Established with the dual purpose of facilitating
legitimate trade and curbing illegal imports and exports, the Act plays a
pivotal role in India's international trade regime. A fundamental tenet of the
Act is the authority vested in it to address the issue of improperly imported
goods. Such authority ensures that imported
Q2. You are heading EXIM dept in an organization. In one of the Management meeting Finance
Director requests you to explain the various types of bills of entry for his
academic interest. Give a write up on
all bills of entry that are in use. (10
Marks)
Ans 2.
Introduction
In the realm
of international trade, the documentation is the vital thread that stitches
together all stakeholders, from regulators to businesses. Among these, the
"Bill of Entry" stands as a pivotal document, acting as a declaration
regarding the goods imported into a country. Presented at the customs
clearance, this document becomes the foundational basis on which the customs
duty is calculated and subsequently levied. Moreover, its different types cater
to diverse scenarios, ensuring the smooth operation of EXIM activities.
Understanding these variants becomes crucial not only for the effective
management of import procedures but also to ensure compliance and fiscal
discipline. To provide an in-depth understanding, this discussion will delve
into the various
Q3. You are attending a webinar on Customs clearance of
export goods. The webinar conductor asks
you the following questions
a) What is shipping bill and where it is used? (5 Marks)
Ans 3a.
Introduction
The realm of
international trade is guided by a suite of documents that ensure the smooth
and compliant movement of goods across borders. Among these, the "Shipping
Bill" stands out as a cornerstone document for exports. As we delve into
the nuances of customs clearance of export goods, understanding the role,
significance, and application of the shipping bill becomes
b) How many types of shipping bills are in use and
explain them (5 Marks)
Ans 3b.
Introduction
Shipping
bills, pivotal in the export ecosystem, aren't just monolithic documents. There
are different types, each designed for a particular category of exports or
circumstances. Their variety ensures that the specifics of an export
consignment align with the regulatory and fiscal expectations of the customs
department. To understand the anatomy of the export process fully,
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