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How an Indian exporter can carry trade samples with him to trade fairs & for other export promotion trips without any hassle?
Free Member, Joined :12/24/2002
No of Topics Posted : 3
Reply/Comments : 3
The best way to carry goods with you for trade promotion is by using Carnet.Any exporter who wish to carry samples on export promotion trips or for trade fairs abroad can use Carnet for hassle-free business promotion. All countries have procedures allowing temporary import of goods from across their borders. Such imports are generally valid for less than 12 months. Importers may choose from three options when considering a temporary import — Duty refund, Temporary Importation under Bond (TIB) and Carnet.
It is accepted in over 63 Countries worldwide and eliminates value-added taxes(VAT), duties, and the posting of security normally required at the time of imports and simplifies customs procedures. A carnet allows temporary exporters to use a single document for all customs transactions, make arrangements in advance, and at a predetermined cost. A carnet also facilitates reentry of goods into India by eliminating the need to register goods with Indian Customs at the time of departure.
Global Sources Exhibitions & Events (India) Private Limited
Mumbai, India
Free Member, Joined :03/27/2002
No of Topics Posted : 2
Reply/Comments : 14
Mr. Grover thanks for valued information, I am sure many more users like me will find the given info useful. As you explained this kindly also advice what are the docs required to get Carnet?
Free Member, Joined :12/24/2002
No of Topics Posted : 3
Reply/Comments : 3
Below is answer to your query.
A carnet can be used for unlimited exits from and entries into India and foreign countries. To get a carnet one needs to fill the application form with relevant documents in original, Carnet is usually processed within 24 working hours time. The documents can also be send by fax/email. The documents that are to be filled are: (i) Carnet Application Form & Undertaking, (ii) Invoice Performa Format, (iii) Duty Chart, (iv) Bank Guarantee Format, (v) Processing Fee Schedule and (vi) Letter of Authority Format.
Hope above will be useful as well.
Cheers
Global Sources Exhibitions & Events (India) Private Limited
Mumbai, India
Free Member, Joined :03/27/2002
No of Topics Posted : 2
Reply/Comments : 14
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