The Central Board of Excise and Customs (International Customs Division), Department of Revenue, Ministry of Finance, Government of India, has decided to extend the facility of allowing Customs clearance of goods against ATA Carnet at Jaipur port.
At present, the facility of Customs clearance of goods against ATA Carnet is provided at Mumbai, Chennai, Cochin, Kolkata ports, New Delhi, Bangalore and Goa Airport, ICD Goa, Bangalore, Hyderabad, Dadri and Ahmedabad, Air Cargo Complex, Ahmedabad.
FICCI, (Federation of Indian Chambers of Commerce and Industry) had sent a request to the board to extend the facility of Customs clearance against ATA Carnet at Jaipur port.
ATA Carnet is a temporary admission document, which simplifies the customs procedures and clearances in a foreign country, without paying duty or a bank guarantee for temporary import into that country.
Like a passport for goods, ATA Carnet allows for the goods for which it was issued to enter any of the participating countries for up to one year.
An ATA Carnet holder can avoid customs declaration and can do away with security deposit or guarantee in the country of temporary importation. In India, FICCI is the sole National Guarantor for ATA Carnets.
ATA Carnet covers several areas for use including trade fairs, shows, exhibitions, meetings etc. for temporary export into a country, which is a signatory to the conventions governing ATA Carnets. Goods must be re-exported out of every country and re-imported into India within a year.
At present 77 countries recognize ATA Carnet, including Australia, Canada, France, Germany, Japan, Korea, Malaysia, Spain, UAE, UK and USA.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)