Answer :

Import textile machinery has to undertake the following steps for importing from Canada:

a. The importer has to obtain IEC or the import-export code number by applying To the Regional import-export licensing authority. This is used to file the formalities of the import procedure.


b. The importer has to obtain a registration cum membership certificate. It is issued by the import promotional Council, federation of India import organisation and import Development Authority.


c. The importer has to issue a letter of credit in favor of the exporter from his bank. The importer instructs the bank about the documents to be collected from the exporter before making payment.


d. The exporter ships the goods as per the specifications of the important. When the goods reach the importer's country, the captain of the ship informs the dock officer and instructs him to receive the goods and record the details about the goods on the document called the import general manifest.


e. The dock authorities inform the importer about the arrival of the goods. The importer prepares the bill of entry which contains details about the imported goods and submits this to the customs officers to receive a customs clearance.


f. The Customs officer exam is the bill of entry and passes it on to the appraiser officer who verifies the details present in it. The bill is later returned to the importer to pay the custom duty.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

The document contNCERT - Business Studies

A receipt issued NCERT - Business Studies

In what ways is eNCERT - Business Studies

Discuss the proceNCERT - Business Studies

Explain the meaniNCERT - Business Studies

Which of the follNCERT - Business Studies

Which one of the NCERT - Business Studies

Which one of the NCERT - Business Studies

Why is it necessaNCERT - Business Studies

Which of the follNCERT - Business Studies