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Customs Shipping
June 2021
1. You have imported one consignment for production purposes and to be used in your factory. Your assistant seeks your advice as to which type of bill of entry should be filed to clear this consignment. Explain the type of bill of entry to be filed with the customs to clear this consignment.
Answer: Imports form a vital component in the growth of a country be it a developed or developing country. For developed countries, import of technology, raw materials and capital goods is required for sustaining the optimum level of production. This assists the developed countries to meet the demand requirements of their consumers to sustain a high standard of living. On the other hand, developing countries require imports in the area of technology and capital equipment. This helps in accelerating the pace of development in these countries. One of the best ways to improve your business and achieve success is to set a goal. You may set a goal to reduce your import costs by a certain percentage or to increase the amount you import without increasing your budget. Many companies fear to set a goal, or worse, don’t bother because outside
2. One company wants to import 100 tons of pipe fittings from U S. They got two quotations one for with container load and one without container. The cost appears to be a little cheaper for without container load. The company manager contacts you and seek your advice whether to go for container load or without container. It requires approximately 4 x 40’ containers for 100 tons. What is your advice to the manager? Explain in detail.
Answer: Logistics is viewed as the competency that links an enterprise with its customers and suppliers. Thus, the process is viewed in terms of two interrelated efforts, inventory flow and information flow.
3. You are appearing for a written examination for a job in customs clearance dept of an organization. You need to answer the following questions to get short listed in the interview:
a. What is The Customs Act 1962 and how many chapters are in this?
b. What is Customs Tariff and how many section & chapters are in the customs tariff for Imports?
Answer: a) Customs duties are calculated on the actual value of imported and exported goods. Actual value implies the price at which merchandise is sold under fully competitive situation. If the actual value cannot be determined for specific goods, the value for identical goods can be taken. Customs authorities were formed as a result of government agreements and international laws between countrie
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