Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home

First time exporters, verification of documents

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... received from first time exporters / other stakeholders highlighting problems faced during verification of documents by Customs. It has been represented that number of documents are being asked from them, which adds to the transaction cost and also leading to increase in dwell time. 3. With the objective to promote ease of doing business, reducing use of paper, to make export easier and hassle free and also to facilitate easy access of database of first-time exporters, procedure for KYC verification of first-time exporters would be as under: (i) A 'KY C cell' has been established at ICD-Export TKD, New Delhi headed by Deputy/Assistant Commissioner (Export Processing), ICD-Export TKD, New Delhi for verification of KYC details of fir .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... House and submits proof of past Export made, then, normally, fresh set of documents should not be insisted upon, except for random verification, wherever necessary. 5. It is being expected from Customs Brokers that they discharge their obligations as per Regulation 11 of Customs Broker Licensing Regulations, 2013 (relevant text reproduced below for reference) in proper form and manner and exercise all due diligence. 11. Obligations of Customs Broker. A Customs Broker shall - (n} verify antecedent, correctness of Importer Exporter Code {IEC} number, identity. of his client and functioning of his client at the declared address by using reliable, independent, authentic documents, data or information; and (o} inform any change of postal address .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rned Bank Branch as mentioned in the IEC details (obtained from DGFT website} or in the copy of Bank statement submitted by the exporter to verify the genuineness of the Bank accounts against that IEC. (viii) It will be the responsibility of SIIB to complete the verification process within å reasonable time limit and inform the results to KYC Cell on monthly basis. (ix) KYC Cell will then create a unique Digital ID of the said first-time exporter in the format TKDOOOX and should maintain details of all such first-time exporters in a register, including details of verification results received from SIIB. This register should be put up before jurisdictional ADC/JC on monthly basis. In case of any adverse report indicating mis-declaratio .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map ||