Import Export Documentation Procedure Project Report

January 17, 2018 | Author: Manish Diehard | Category: Trade, Services (Economics), Business, Industries, Shipping Service
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SERUM INSTITUTE OF INDIA LTD.

STUDY OF IMPORT AND EXPORT PROCEDURES

Prepared by

Manish Kumar PGDM-A III semester Roll no. IB108112

BALAJI INSTITUTE OF INTERNATIONAL BUSINESS PUNE 411033 (2010-2012)

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INDEX Sr.No

TITLE

Pg.No

1.

CERTIFICATE

2

2.

ACKNOWLEDGEMENT

3

3.

EXECUTIVE SUMMARY

4

4.

OBJECTIVE OF PROJECT

5

5.

RESEARCH MEATHODOLOGY

6

6.

COMPANY PROFILE

7

 Introduction  Serum Institute of India Ltd.  Achievements.  Organizational chart.

7.

IMPORT DOCUMENTATION

11

8.

IMPORT PROCEDURE FOLLOWED BY

15

SIIL

9.

EXPORT DOCUMENTATION

17

10.

EXPORT PROCEDURE FOLLOWED IN

20

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SIIL 11.

EXPORT CUSTOM CLEARANCE

23

PROCEDURE 12.

EXPORT INCENTIVE SCHEMES

25

 Export Promotion Capital Goods Scheme  Duty Exemption Schemes  Duty Remission Schemes 13.

INCO TERMS

31

14.

IMPORT PROCEDURE IN DTA

34

15.

SEZ

36

16.

EOU

40

17.

IMPORT PROCEDURE OF SEZ/EOU

44

18.

EXPORT PROCEDURE OF SEZ/EOU

49

19.

SEZ vs. EOU OF SIIL

50

20.

CONCLUSION

51

21.

LIMITATIONS

52

22.

BIBLIOGRAPHY

53

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ACKNOWLEDGEMENT

“Gratitude is not a thing of expression; it is more a matter of feeling”

The satisfaction which accompanies the successful completion of my task is incomplete without the mention of the names of those people who made it possible, because success is epitome of hard work , perseverance ,zeal, determination and the most encouraging guidance and advice serve as light and crown our effort with success.

I am thankful to the SERUM INSTITUTE OF INDIA LIMITED for giving me the opportunity to carry out my project work in the esteem organization.

I express my sincere gratitude to Mr.P.C.Nambiar (Director EXIM) for providing me the opportunity to work in the project “INTERNATIONAL TRADE PROCEDURE OF SIIL”, PUNE.

I am extremely grateful to Mr.Harish Radhakrishnan (A.G.M) Mr. P.K.Dave , Mr.Arun Kumar, Mr.Dheeraj, Mr.Vaibhav

Kulkarni, Mr.J.A Sathe for his

continuous help , guidance and direction in undertaking this project and making two month of summer training as a true learning experience.

Lastly, I would like to thank all other executive and employees in SIIL for their help and counseling at various stages.

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EXECUTIVE SUMMARY

The Poonawalla Group of Companies has grown and diversified into a multifaceted organization with a nationwide network of offices, extensive manufacturing facilities, full-fledged research and development capabilities. A market leader of mechanical seals for industrial use, the group also manufactures and exports industrial valves and pneumatic actuators to various parts of the world including Europe and USA and has now extended its activities to include automated control systems for process industries, prime factors in the group’s growth and success have been its emphasis on quality, innovation, productivity and customer support.

During my summer internship program with Serum Institute of India Ltd. i was trained in various aspects related to export clearance, documentation, and procedures, right from the pre-shipment documentation stage to post shipment documentation, formalities involved in realization of export proceeds, procedures relating to L/C consignment. Daily functions were carefully observed. Different schemes involved in exports and imports were studied in details.

Another aspect I covered in this report is about the Export Oriented Units and the Special Economic Zone, and the various aspects related to the both concepts and procedures carried out in both.

It was a great experience understanding and learning the above mentioned things.

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OBJECTIVE OF THE STUDY

My objectives for the given project were:

To study the Import procedure of SIIL.



To study the Export procedure of SIIL.



To study different Incentives, Assistance and Prospect of SIIL.



To learn the environment of an esteemed organization involve in Import and Export Operation.



To know the operation of 100% Export Oriented Unit (EOU) .



To learn the working procedure of Special Economic Zone (SEZ) established by SIIL.

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RESEARCH MEATHODOLOGY (DATA COLLECTION MEATHOD)

Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying now research is done systematically. In that various steps, those are generally adopted by a researcher in studying his problem along with the logic behind them. Data collection is important step in any project and success of any project will be largely depend upon how much accurate you will be able to collect and how much time, money and effort will be required to collect that necessary data, this is also important step. Data collection plays an important role in research work. Without proper data available for analysis you cannot do the research work accurately. There are two types of data collection methods available.

A. PRIMARY SOURCES: - The primary data was collected by interaction with the senior executives and HOD of the International Marketing.

B. SECONDARY SOURCES:- The secondary data was collected by various means such as:

Company Records.



Magazines.



Websites such as:- www.seruminstitute.com. www.google.com

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COMPANY PROFILE

“WORLD CLASS PRODUCT, WORLD CLASS CARE”

The Poonawalla Group has been established in 1896.The group has grown and diversified into a multi-faceted organization with a nationwide network of offices manufacturing facilities research and development capabilities, total turnover exceeding Rs.5 billion. The group which employees over 2000 people is professionally managed and engaged in a wide array of activities ranging from horse-racing and breeding ,manufacturing pharmaceuticals ,mechanical seals to exports and financial services. Prime factor in the group’s growth success have been its emphasis on quality, innovation, dedication and customer support. The group is committed to prepare for the future by operating its existing divisions to their full potential through market opportunities that may present themselves in the service of the nation’s core capabilities. Its current

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endeavors have a direct bearing in matters of consequence in the nation’s physical well-being and the efficient operation of its infrastructural economy.

The following are the companies under Poonawalla Group:  EL-O-MATIC (INDIA) PVT. LTD.  INTERVALVE (India) LTD.  SERUM INSTITUTE OF INDIA LTD.  SERUM INTERNATIONAL LTD.  SPAN OVERSEAS LTD.  POONAWALA FINANCIALS LTD  POONAWALA INVESTMENTS AND INDUSTRIES PVT. LTD.  POONAWALA ESTATES STUD AND AGRICULTURAL FARM.  POONAWALA AUTOMATION SYSTEM PVT. LTD

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SERUM INSTITUTE OF INDIA LTD

Serum Institute of India Ltd has emerged as the largest exporter of vaccines and Immunobiologicals of the country with its product being exported to 140 countries across the globe, thus gaining worldwide recognition as a reliable source of quality vaccines which form part of the global vaccination programmes.This export performance has earned the company recognition as export and a 4 Star Trading House.

It has established as the Worlds largest producer of Measles and DTP group of vaccines. Several life saving biological were manufactured at price affordable to the common man and in abundance , with the result that the country was made self sufficient for Tetanus Anti-Toxin and Anti-Venom Serum. It has also proliferated to bring down the prices of newer vaccines so that not only Indian, but the entire under privileged children of the world, in more than 15 countries are protected from the birth onwards. Vaccines are manufactured in accordance with the guidelines laid down by the world health organization. The techniques used are at par with the International Standards. The facilities are regularly upgraded to be in line with the current good manufacturing practices followed world wide.

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The concept of consumer satisfaction is given prime importance in SIIL Corporate Philosophy. It has received commendation letters from several Government Agencies for the support rendered to their National Immunization Programs. SIIL is an active member of the CVI (children vaccines initiatives), a body under the aegis of WHO, UNICEF, UNDP and Rockefeller foundation. This body is engaged in the development of combination vaccines and improvement in vaccine technology to make available vaccines of standard quality. Serum Institute of India has recently set up SERUM BIO-PHARMA PARK, India’s first biotech Special Economic Zone (SEZ). It has also an Economic Oriented Unit (EOU).These are adjoining Serum Institute‘s existing manufacturing unit and is sector-specific SEZ is meant for Bio-Technology and Pharmaceutical Products. The SEZ and EOU has allowed Serum Institute of India ltd. To avail various tax benefits such Income Tax, Import Duty on Capital Goods, etc .This has encouraged a lot of foreign companies to partner with Serum Institute of India ltd to avail and share benefits. The production facilities of Serum Institute have the best in terms of equipment and human resources; essential to ensure high quality vaccines. The manufacturing facilities conform to WHO current Good Manufacturing Practice (cGMP) requirements and are approved by WHO, Geneva. The unique large bioreactors for DTP group of vaccines have a huge batch size to produce millions of doses. An interesting in-built mechanism of continuous improvement is by practicing the concept of Quality Circles. It empowers and encourages the employees at the grassroot level and at the same time brings about up gradation of quality of all fronts. The case studies of their Quality Circles have won many awards not only at State and national levels but also at the International Level. It goes without saying that Serum Institute's work ethic ensures that every safeguard is instituted, every norm of cGMP is scrupulously observed, and every procedure followed. Among the latest acquisitions is the state-of-the-art EDP system, which provides instant information on every aspect of production, from stocks, inventory, quantity of vaccines in the pipeline, Q.C. results of each batch, to sales, product dispatch and destinations.

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ACHIVEMENTS

Several awards and marks of recognition have been showered on SERUM INSTITUTE OF INDIA .They are: Certificate of merit by CHEMICAL, Mumbai, for outstanding Export performance in 1994-95.  First award under the Drug and Pharmaceutical Panel form CHEMIXIL, Mumbai, for sterling performance in Export performance in 1995-96.

 Certificate for Export recognition (1ST RANK) under the Export House category, from the government of Maharashtra in Export achievements 199997.  Certificate of merit awarded by the government of India, Ministry of commerce for outstanding export performance in 1996-97 and 1997-98 awarded to “TOP 10 EXPORTER” from Pune region by the Joint Director Of Foreign Trade,Pune and Maratha Chamber Of Commerce, Industries and Agriculture.

 Recognized “TRADING HOUSE” since 1997-98 by Government of India.

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ORGANIZATIONAL CHART

P.C.Nambiar (Director) Mr.Arun Kumar (Secretary)

Mr. Dave (Dy.Dir.)

Mr.Radhakrishnan

Mr.Ravindranathan

(G.M)

Mr. Sharma

(A.G.M)

(Delhi)

Mr.Iyer (Secretary)

Mrs.Joshi

Mr.Debta Mrs.Unikrishanan

Mr.Vamanan

Mr.N.J.Bandrawalla

(Service tax)

Mr. Nair

Mr.Bhandari Mr.V.Kulkarni

Mr.Debta

Mr.Yethekar

(EOU)

Mr.Pillai Mr.Sathe Mr.Chaudhari

Mr.Poduval

Mrs.Joshi Mrs.Bahirat Mr.Rajesh Poduval

Mr.P.Kulkarni Mr.Salunke 13

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IMPORT IMPORT – An import is any good or service brought in from one country to another country in a legitimate fashion, typically for use in trade. It is a good that is brought in from another country for sale. The buyer of such goods and services is referred to an "importer" who is based in the country of import whereas the overseasbased seller is referred to as an "exporter".

IMPORT DOCUMENTATION The documents used and required in the Import and its procedure are as follows:

Bill Of Entry :- An account of goods entered at a customs house, of imports and exports, detailing the merchant, quantity of goods, their type, and place of origin or destination. It is issued by the customs presenting the total assigned value and the corresponding duty charged on the cargo.



Pro Forma Invoice : - An invoice provided by a supplier prior to the shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and importation specification (weight, size and similar characteristics). It is prepared by the exporter.



Commercial Invoice :- It is a formal note for payment issued by the exporter to the importer for goods sold under a sales contract. It should give details of the goods sold, payment terms and trade terms. It is also used for the customer clearance of goods and sometimes for foreign exchange purpose by the importer. It is prepared by the exporter. .

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Packing List: - The packing list is the consolidate statement in a particular format, detailing how the goods have been packed. It is informative and itemizes the material in each individual package such as box, cartons, etc. it is very useful documents for customs at the time of examination and for the ware housekeeper of the buyer to maintain a record of inventory and to effect delivery.



Certificate Of Origin :- this certificate indicates that the goods which are being exported are actually manufactured in a specific country mentioned therein. This certificate is send by the exporter to the importer.



Quality Certificate :- The quality certificate is provided by the Exporter to the Importer. This certificate is issued by the (government) quality officer of the Exporter which verifies the quality of the material exported.



Shipping Bill :- The shipping bill is the requisite for the seeking the permission of customs to export goods by sea .It contain :-

 The details of goods.  Number and kind of packages.  Shipping mark and number.  Value of goods.  The name of the vessel.  The country of destination.  The port of loading.  The exchange rates, etc.



Airway Bill :- The airway bill is a contract between the owner of the goods and the carrier or its agent. The receipt issued by an airlines company or its agent for the carriage of goods is called airway bill. The first three digit of the airway bill number normally represent the code, which identifies the carrier. For ex:

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125 – British Airway 074- Klm Royal Dutch Airline 176- Emirates Airline 

Lorry Receipt :-The lorry receipt is generally issued when the transportation of goods is carried by road and basically for the short distance. It also contains all the details such as name of the importer, exporter, details of the goods etc.



Insurance Policy/Certificate:- An insurance policy is an insurance document evidencing insurance has been taken out on the goods shipped, and it gives full details of the insurance coverage. An insurance certificate certifies that the shipment has been insured under a given open policy and is to cover loss of or damage to the cargo while in transit. It is prepared by insurance broker.

Cost Of Insurance = (QUANTITY OF GOODS IMPORTED*PER UNIT COST OF GOODS*EXCHANGE RATES) + FREIGHT CHARGES OF TOTAL INVOICE VALUE + INSURANCE RATES.

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PROCEDURE OF IMPORT IN SIIL

The Import Procedure carried out in SIIL is explained below in sequential manner:-

 Ioc: - Interoffice communication is done.  Invitation For Tender: - The tenders are invited and the tender with appropriate quotation is selected.  Po: - The purchasing order is placed.  Preparation Of Documents:-Documents such as bills of entry is prepared and INCO TERMS mode of payment, value of materials, freight charges etc are decided.  E Filing Of Documents: - Goods are arrived mostly in Mumbai port where custom clearance is done which are computerized E-filing is done.  Entry Inwards: - Import manifest is submitted by conveyance in charge after which “Entry Inwards “is granted.  Noting, Examination And Assessment: - Importer has to submit “Bill of Entry” along with other documents to custom (N.J.BANDRAWALLA) where goods are assessed to duty, examined and pre-audit is carried out. Custom duty is paid after assessment.  Out Of Custom Charge Order:- Goods can be cleared outside port after ‘Out of Customs Charge’ order is issued by customs officer. After that, port dues, demurrage and other charges are paid and goods are cleared.

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EXPORT

EXPORT- In International Trade, "Exports" refers to selling goods and services produced in home country to other markets. The seller of such goods and services is referred to as an "Exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "Importer".

ADVANTAGES OF EXPORTING: The basic advantage of exporting visa- a- vis confined to the domestic market that SIIL enjoyed are:

The company became globally competitive.



Business risk is spread throughout many markets and countries.



Profit and turnover increases.



The company gets many incentives.

EXPORT DOCUMENTATION Documentation is the most important aspect of overseas trade. Correct documentation is very important because it alone can secure the swift passage of goods through the customer resulting in prompt payment of goods exported. The Indian government has been simplifying the export documentary procedures. There was a time when exporter would have to handle around 200 documents to complete in various obligations and formalities. Now this has been reduced to around 60.These documents can be mainly classified into two categories in SIIL.They are as follows:(a)

Commercial Documents.(Pre shipment documents)

(b)

Regulatory Documents. (Post shipment documents) 18

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EXPORT DOCUMENTS

Commercial Documents

Principle

Regulatory Documents

Auxiliary

 COMMERCIAL DOCUMENTS Out of 15 commercial documents 8 are principle and 7 are auxiliary. 

PRINCIPLE DOCUMENTS

The 8 principle documents are:1. Commercial invoice 2. Packing list. 3. Bill of Lading/ Air Waybill. 4. Certificate of inspection/Quality Control. 5. Certificate of Origin 6. Bill Of Exchange 7. Shipment Advice. 8. Insurance Certificate. 19

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 AUXILIARY DOCUMENTS The Seven Auxiliary Documents are:1. Performa invoice. 2. Intimation for inspection. 3. Shipping instructions. 4. Insurance Declaration. 5. Application for certificate of origin. 6. Mate’s Receipt. 7. Letter to bank of collection/negotiation of documents.

 REGULATORY DOCUMENTS There are seven regulatory documents associated with the pre-shipment stage of the export transaction. They are: 1. ARE Form (for central Excise) 2. Shipping Bill/Bill of Export ( for export) - For export of goods Ex. Bond - For export of duty free goods - For export of dutiable goods - For export of goods under claim of drawback - For export of goods under claim of DEPB

3. Port Trust copy of Shipping Bill/ Export Application/Dock Challan For port. 4. Vehicle ticket for port 5. Exchange Control Declaration/GR/PP forms RBI.

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6. Freight Payment certificate Steamer Agents. 7. Insurance Premium Payment Certificate Insurance co.

COMMERCIAL DOCUMENTS

1. Quotation: - An offer to sell goods and should state clearly the prices, details of quality, quantity, trade terms, delivery terms, payments term. It is prepared by exporter.

2. Sales Contract: - An agreement between the buyer and the seller stipulating every details of the transaction. It is a legally binding document. It is therefore advisable to seek legal advice before signing the contract. It is prepared by importer and exporter.

3. Pro Forma Invoice: - An invoice provided by a supplier prior to the shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and importation specification (weight, size and similar characteristics).It is prepared by the exporter.

4. Commercial Invoice:-It is a formal note for payment issued by the exporter to the importer for goods sold under a sales contract. It should give details of the goods sold, payment terms and trade terms. It is also used for the customer clearance of goods and sometimes for foreign exchange purpose by the importer. It is prepared by the exporter.

5. Packing List: - A list with detailed packing information of the goods shipped. It is prepared by the exporter.

6. Inspection Certificate: - A report issued by an independent surveyor (inspection company) or the exporter on the specification of the shipment,

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including quality, quantity, and/ or price etc. required by certain buyer and countries. It is prepared by Inspection Company or exporter.

7. Insurance Policy/Certificate:- An insurance policy is an insurance document evidencing insurance has been taken out on the goods shipped, and it gives full details of the insurance coverage. An insurance certificate certifies that the shipment has been insured under a given open policy and is to cover loss of or damage to the cargo while in transit. It is prepared by insurance broker.

8. Product Testing Certificate:- A certificate to certify the products are conformed to a certain international/national technical standard, such as product quality, safety and specifications etc. it is prepared by accredited laboratories.

9. Dock Receipt: - A receipt to confirm the receipt of a cargo on quay/warehouse is pending shipment. The dock receipt is used as documentations to prepare a bill of lading. It has no legal role regarding processing financial settlement. It is prepared by shipping company.

10. Bill Of Lading:- An evidence of contract between the shipper of the goods and carrier. The customer usually needs the original as proof of ownership to take possession of the goods. It is prepared by shipping company.

11. Airway Bill:- A kind of waybill used for the carriage of goods by air. This serves as a receipt of goods for delivery and states the condition of carriage but is not a title document or transferable/negotiable instrument. It is prepare by airline.

12. Document Ary Credit:- A bank instrument began ( issuing or opening bank) at the request of the buyer, evidencing the bank undertaking to the seller to 22

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pay a certain sum of money provide that specific requirements set out in the D/C are satisfied. It is prepared by bank to issue to importer.

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CUSTOM CLEARANCE OF EXPORT

Every consignment leaving the Indian shores by air , sea , or land has to undergo a prescribed procedure of custom clearance. This is in EDI (non manually)in following manner in SERUM INSTITUTE INDIA LTD. with the help of their own custom house agent is MR. N. J. BANDRAWALLA in Mumbai.

EXPORTER/CHA

Declaration in Prescribed Format

CUSTOMS IT SYSTEM

(MR.N.J.BANDRAWALLA)

Bills of lading and other Documents.

Shipping Bill No. Endorsed on check list.

SHIPPING LINE EXPORTER/CHA

Cargo on board

Payment

The Ship

of Duty.

Physical Examination PREVENTIVE OFFICER

Let Export Order Generation of Shipping Bill

SHED APPRAISER (EXPORT)

FIG. :- EXPORT CUSTOM CLEARANCE PROCEDURE(EDI)

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The various stages in custom clearance are illustrated in above mentioned figure. The details are discussed below in stepwise manner. STEP 1:- The exporter/CHA fills the declaration in prescribed format through the custom service centre. The exporter verifies the data as per the checklist generated by the system after which a shipping bill number is generated by the system endorsed on the printed checklist and this is given back to the exporter/CHA. In case of dutiable items, exporter pays the duty along with TR-6 chalan generated by the system STEP 2:- The goods are allowed to enter the dock on the strength of the checklist endorsed with the shipping bill number. The exporter then submits this along with documents as follows to the custom officer who verifies the documents against the received goods. 

Original invoice



Packing list



GR forms



ARE forms, etc.

STEP 3:- The goods are then presented to the shed appraiser (export) for physical examination which is carried out by the customs examiner. STEP 4:- After the physical examination is over the LET EXPORT ORDER is given by the Shed Appraiser. The shipping bill is generated in three copies. One copy for customs, the second copy for exporter and third copy is generated after the submission of Export General Manifest(EGM).it is mandatory to submit the shipping bill wise EGM to the custom within the seven days of sailing of ship. STEP 5 :- The Exporter / CHA submits exporter’s copy of shipping bill duly signed by the dock appraiser to the preventive officer for allowing the cargo to be loaded on board the ship.In case of any discrepancy or mis declaration, the export of the consignment is not allowed and suitable action is taken against the exporter under the CUSTOM ACT 1962.

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EXPORT INCENTIVES SCHEMES

 EXPORT PROMOTION CAPITAL GOODS SCHEME The EPCG scheme allows import of capital goods for pre-production, production and post production (including CKD(complete knock down)/SKD(semi-knock down) thereof as well as computer software system) at five percent custom duty subject to an export obligation equivalent to 8 times of duty saved on capital goods imported under EPCG scheme to be fulfilled over a period of 8 years reckoned from the date of issuance of license.

It enables the exporter to import capital goods inclusive of machinery, components and spare parts of machinery required for goods production. Other items eligible to be imported under this scheme are: 

Jigs



Fixtures



Dies



Moulds,etc.

In case CVD is paid in cash on import under EPCG, the incidence of CVD would not be taken for computation of net duty saved provided the same is not cenvated.

The EPCG scheme can be availed by both manufacturer exporters as well as merchant exporter. Conditions for the merchant exporters are:

The capital goods imported must be installed in the factory of the supporting manufacturer.



The name and address of the supporting manufacturer must appear on the EPCG licence.

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Both the merchant exporter and the supporting manufacturer must jointly execute and bond with bank guarantee that they will fulfill the export obligation.

The EPCG license with a duty saved of Rs.100 crores or more, the export obligation shall be required to be fulfilled over a period of 12 years. A person holding an EPCG license may source the capital goods from a domestic manufacturer instead of importing them. The domestic manufacturer supplying capital goods to EPCG license holders shall be eligible for deemed export benefit

It is mandatory for the exporter to fulfill the export obligations by exporting the goods capable of being manufactured by the capital goods imported under the scheme. if in case EPCG authorization fails to fulfill prescribed export obligation, the exporter shall pay duties of custom plus interest as prescribed by the custom authority.

As SIIL is a manufacturer exporter and a status holder it is exempted from bank guarantee as it has a clean track record.

DUTY EXEMPTION SCHEMES There are two duty exemption schemes offered by the government of India to reduce the custom duty burden on export products. They are: ADVANCE AUTHORIZATION SCHEME An Advance Authorization is issued to allow duty free import of inputs, which are physically incorporated in export products. This scheme was earlier known as the advance license scheme. AA is exempted from payments of Basic Custom Duty, Additional Custom duty, Educational Cess, Antidumping Duty and safeguard duty, if any.

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While computing the value of Advance Authorization, the margin for normal wastage is built in so that adequate quantity of raw material can be imported.

IMPORTANT FEATURES OF ADVANCE AUTHORIZATION 

Advance Authorization (AA) is issued only to the actual user. Neither the authorization, nor the material against it is transferable even after the export obligation is fulfilled.



AA is issued to manufacturer exporters or merchant exporter who is tied to supplentary manufacturers.





AA can be issued for: 

Physical export.



Intermediate supplies.



Deemed export.



Sale to SEZ units.

The need of bank guarantee/letter of undertaking is waived if the AA is availed on a post export basis.



The quantum of import allowed are decided on the basis of standard inputoutput norms (SION), as notified by the Director General of Foreign Trade (DGFT). AA can also be issued on the basis of adhoc norms or self declared norms as per the foreign trade policy.



In case of project export, the export obligation has to be fulfilled within the duration of execution of the project.



ADVANCE RELEASE ORDER (ARO):-If the manufacturer does not have a identified vendor and in case of emergency the manufacturer needs raw material from a local vendor he can ask the regional authority to give a ARO to his vendor who in turn can use the ARO to import the raw material without paying the custom duty.

 DUTY FREE IMPORT AUTHORIZATION SCHEME This scheme is similar to AA except the following difference:

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1. ENTITLEMENT: - The DFIA scheme is applicable only to products for which SION have been notified and not on the basis of ad hoc norms. 2. VALUE ADDITION:- A minimum of 20% value addition shall be required for issuance of such authorization except for items in the gems and jewellery sector.

CRITERIA FOR AVAILING ADVANCE LICENCE 

AA is given on the basis of the Export Order received by the manufacturer.



AA is also given on the basis of the Annual Requirement where in based on previous year’s production in term of value and the quantity the regional authority issues the license to the manufacturer.

DUTY REMISSION SCHEMES

DUTY DRAWBACK SCHEME:- the duty drawback scheme enable the exporter to claim the refund of the duties such as excise duty on inputs and finished products and customs duty on the inputs which are imported from the government. Under the Custom Act 74 and 75, the Duty Drawback can be claimed when the inputs are used in the manufacture of goods that are eventually exported or when imported goods are re-exported without any value addition. There is no duty drawback available on other taxes and duties such as sales tax and octroi.drawback is also available on duty paid on packing material , processing and job work. PROCEDURE TO CLAIM DUTY DRAWBACK. There are set of procedure to claim for duty drawback which are explained below in step wise manner;-

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STEP 1.

The exporter has to ensure that the drawback rate for the products that

he/she is exporting is fixed by the Director of Drawback, under the Department of Revenue, Ministry of Finance. These rates are called ALL INDUSTRY RATE (AIR). The AIR rates are fixed under rule 3 of Drawback Rules where weighted averages of consumption of various inputs and its value, both imported and indigenous, are considered. It is fixed as a percentage of the FOB value of export goods in which a ceiling of the maximum amount of Drawback payable is defined.

STEP 2 . If the drawback rate is not fixed, the exporter has to apply for the fixation of rate by submitting the details to the Jurisdictional Commissioner of central exice.the drawback rate thus fixed is called as the BRAND RATE. Within the 60 days of export the exporter has to submit an application for the fixation of brand rate. Also if exporter feels that the AIR is fixed at a lower rate than the actual duty paid, he/she can apply under rule 7 of Drawback Rules for special brand rate. The conditions for these are:

If the AIR is less than 80% of the duties paid.



The value of imported material is not more than the export value

STEP 3 . For claiming the drawback, an exporter must show the details for which he/she is eligible to make a claim. It includes “SHIPPING BILL” which is a triplicate copy marked as “drawback claim copy” and should be endorsed by the custom officer at the port confirming the dispatch of goods.

DUTY ENTITLEMENT PASS BOOK SCHEME (DEPB) The DEPB is devised for that exporter who wishes to avail the facility of importing various inputs and other approved items under DEPB scheme on POST-EXPORT basis.

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SERUM INSTITUTE OF INDIA LTD.

Under this scheme, the DEPB rates are fixed and announced by the licensing authorities which are the SION rates fixed as a percentage of the FOB. The exporter is issued a passbook in which the amount of DEPB entitlement is credited at the time of exports on the basis of actual amount of FOB value of export as per the bank certificate Some features of DEPB are:

Capital goods are not allowed for the imports under DEPB scheme.



The export realization should be in hard currencies such as the US Dollar, Pound Sterling etc.



The facility is not allowed for export to Nepal, Bhutan, etc where export from India are allowed in Indian rupees.



The exporter has to use a blue shipping bill on which a declaration has to be made in the prescribed form.

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SERUM INSTITUTE OF INDIA LTD.

INCO TERMS

The International Chamber of Commerce has created "INCOTERMS" in 1936. INCOTERMS are designed to create a bridge between different members of the industry by acting as a uniform language they can use.

INCOTERMS are most frequently listed by category:

E terms:- E-terms occur when a seller's responsibilities are fulfilled when goods are ready to depart from their facilities.

1.

EX-Works :-One of the simplest and most basic shipment arrangements places the minimum responsibility on the seller with greater responsibility on the buyer.

The buyer is responsible for making arrangements with their

forwarder for insurance, export clearance and handling all other paperwork.



F terms:- Terms beginning with F refer to shipments where the primary cost of shipping is not paid for by the seller.

1. FOB (Free On Board) :- One of the most commonly used terms. Though frequently used to describe inland movement of cargo, FOB specifically refers to ocean or inland waterway transportation of goods. "Delivery" is accomplished when the shipper/seller releases the goods to the buyer's forwarder. The buyer's responsibility for insurance and transportation begins at the same moment. 2. FCA (Free Carrier):- The seller is

responsible for arranging

transportation, but he is acting at the risk and the expense of the buyer. In FCA the seller chooses and works with the freight forwarder or the carrier.

32

SERUM INSTITUTE OF INDIA LTD.

3. FAS (Free Alongside Ship):- The buyer bears all the transportation costs and the risk of loss of goods. FAS requires the shipper/seller to clear goods for export, which is a reversal from past practices. Companies selling on these terms will ordinarily use their freight forwarder to clear the goods for export.



C terms:-Terms beginning with C deal with shipments where the seller pays for shipping.

1. CFR (Cost and Freight):- It is the shipper/seller's responsibility to get goods from their door to the port of destination and the buyer's responsibility to cover insurance from the port of origin or port of shipment to buyer's door.

2. CIF (Cost, Insurance and Freight):- This is similar to CFR, but instead of the buyer insuring the goods for the maritime phase of the voyage, the shipper/seller will insure the merchandise.

3. CPT (Carriage Paid To):- In CPT transactions the shipper/seller has the same obligations found with CIF, with the addition that the seller has to buy cargo insurance, naming the buyer as the insured while the goods are in transit.

4. CIP (Carriage and Insurance Paid To):- This term is primarily used for multimodal transport.



D terms:- D terms cover shipments where the shipper/seller's responsibility ends when the goods arrive at some specific point. Because shipments are moving into a country, D terms usually involve the services of a customs broker and a freight forwarder. In addition, D terms also deal with the pier or 33

SERUM INSTITUTE OF INDIA LTD.

docking charges found at virtually all ports and determining who is responsible for each charge.

1. DAF (Delivered At Frontier):- The seller's responsibility is to hire a forwarder to take goods to a named frontier, which usually a border crossing point, and clear them for export.

2. DES (Delivered Ex Ship):- Here is the seller's responsibility to get the goods to the port of destination or to engage the forwarder to the move cargo to the port of destination uncleared.

3. DEQ (Delivered Ex Quay):- In this arrangement, the buyer/consignee is responsible for duties and charges and the seller is responsible for delivering the goods to the quay, wharf or port of destination.

4. DDP (Delivered Duty Paid):- DDP terms tend to be used in intermodal or courier-type shipments. It is the shipper/seller's responsibility to insure the goods and absorb all costs and risks including the payment of duty and fees.

34

SERUM INSTITUTE OF INDIA LTD.

IMPORT PROCEDURE DTA There are two types of categories under DTA imports: 1. Air/Sea Consignment 2. Duty Free/Duty Paid Consignment For air consignment no original documents are required and the required documents are: 

Bank D/O if the documents are in bank’s name.



If freight, insurance has to be arranged by us, we have to pay.



Can keep consignment in bond and clear it later, after receiving original it is given.



Sometimes consignments are to be kept in bond



Bank guarantee and space certificate



Have to maintain a bond register, bond no. , bond date, expiry date card should be maintained, duly signed by customs and by us.



For duty paid consignments, no TRA is required whereas it is required for duty free consignments.



Our consignments are free.

Documents required: 1. Interoffice communication to furnish a transit bond with bank’s guarantee to the customs authority in Mumbai to private bonded warehouse on bond to bond transfer basis. 2. Space and license validity to customs on behalf of the company from the superintendent of Central-Excise Mumbai. 3. Application to the superintendent of Central-Excise and Customs for inbonding the consignment in private bonded warehouse- Pune. 4. Bill of Entry for warehouse 5. Letter of assistant commissioner of customs informing the deposition of consignments in the private bonded warehouse of the company. 6. Bond ledger report 7. Packing list 8. Invoice

35

SERUM INSTITUTE OF INDIA LTD.

9. Shipping bill (export promotion copy)

Material can be cleared as follows: 

On payment of full duty or applicable present duty rate.



Under Advance License: goods imported under advance license are duty free.



Under EPCG license: this is only for capital goods.



Under EPCG, spares license only for spares of capital goods, which are imported under EPCG scheme at concessional rate of duty as above.



Under DEPB similar to import on payment of full duty or applicable duty only, instead of paying duty in cash or demand draft or pay order, is paid by DEPB.

36

SERUM INSTITUTE OF INDIA LTD.

SPECIAL ECONOMIC ZONE

India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965. With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000. In the short span of about three years since SEZs act and rules were notified in February 2006, formal approval have been granted for setting up of 570 SEZs out of which 346 have been notified.

THE MAIN OBJECTIVES OF THE SEZ ACT ARE: (a) Generation of additional economic activity. (b) Promotion of exports of goods and services. (c) Promotion of investment from domestic and foreign sources. (d) Creation of employment opportunities. (e) Development of infrastructure facilities.

ADMINISTRATIVE SET UP FOR SEZ SEZs are governed by three tier administrative set up:I. II.

The board of approval is the apex body in the department. The unit approval committee at the zonal level dealing with approval of units in the SEZs and other related issues.

37

SERUM INSTITUTE OF INDIA LTD.

III.

Each zone is headed by a development commissioner, who also heads the unit approval committee.

APPROVAL MECHANISM OF SEZ:-



ANY PROPOSAL FOR SETTING UP OF SEZ in the private/joint/state sector is routed through the concerned state government who in turn forward the same to the department of commerce with its recommendation for consideration of the board of approval.



ANY PROPOSAL FOR SETTING UP OF UNITS IN SEZ is approved at the zonal level by the approval committee consisting of development commissioner, customs authorities and representatives of state government.

INCENTIVES AND FACILITIES OFFERED TO THE SEZS The incentives and facilities offered to the units in SEZs for attracting investments into the SEZs, including foreign investment include:-



Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units.



SEZ are allowed to sell finished products and by-products in the Domestic Tariff Area on payment of applicable custom duty.



SEZ units are allowed carrying forward of losses.

38

SERUM INSTITUTE OF INDIA LTD.



100% Income Tax exemption on export income for SEZ units for first 5 years, 50% for next 5 years.



Manufacturing unit in SEZs as in SIIL are allowed 100% FDI under the automatic route.



SEZs have the freedom to bring in export proceeds without any time limit



SEZ units are exempted from interest rate surcharge on import finance.



SEZ units are exempted from Central Sales Tax.



SEZ units are exempted from Service Tax.



SEZs are permitted to have non-polluting industries in IT and facilities like golf courses, hotels etc.



SEZ units may sub-contract part of the production or production processes through units in the domestic traffic area or through other EOU/SEZ units.

39

SERUM INSTITUTE OF INDIA LTD.

SEZ OPERATIONS IN SERUM INSTITUTE OF INDIA LIMITED

SERUM BIO-PHARMA SEZ is the first Bio-Pharma sector specific SEZ established in India. Considering the peculiar requirement of industrial infra structure for bio-technology & pharmaceutical products , a need was felt of a common infra structure provider to render

common

inputs

such

as

power,

distilled

water,

compressed

air,vaccum,sterilized water,etc.accordingly , a subsidiary in the name of SEZ Bio-Tec services private limited was established. SIIL is also first of its kind ever approved by the government of India.The BOA has granted its letter of approval to this company to provide common industrial infra structure to the units functioning within the SEZ.

SIIL, a world leader, in Immune-Biological taking into account the great export potential , it has decided to establish world class manufacturing facilities within the SEZ.Accordingly the company has established 5 manufacturing units in the SEZ. It is a fact that commercialization of any new product would take at least 3 to 4 years from the development of molecule to completing the phase 2 clinical trial. Recognizing this, the company decided to put up a unit exclusively for R&D in SEZ.

40

SERUM INSTITUTE OF INDIA LTD.

EXPORT ORIENTED UNIT SCHEME (EOU) The EOU Scheme introduced in early 1981, is complementary to the SEZ scheme. It adopts the same production regime but offers a wider option in location with reference to factors like source of raw materials, port of export, hinterland facilities, availability of technological skills, existence of an industrial base, and the need for a large area of land for the project.

CHARACTERISTICS AND BENEFITS OF EOU:-



No license required for import.



Exemption from Central Excise Duty in procurement of capital goods, rawmaterials, consumables spares etc. from the domestic market.



Exemption from customs duty on import of capital goods, raw materials, consumables spares etc.



Reimbursement of Central Sales Tax (CST) paid on domestic purchases.



Supplies from DTA to EOUs treated as deemed exports.



Reimbursement of duty paid on furnace oil, procured from domestic oil companies to EOUs as per the rate of drawback notified by the Directorate General of Foreign Trade.



100% Foreign Direct Investment permisisible.



Exchange earners foreign currency (EEFC) Account



Facility to retain 100% foreign exchange proceeds in EEFC Account.



Facility to realize and repatriate export proceeds within twelve months. Further extension in time period can be granted by RBI and their authorized dealers.



Re-export of imported goods found defective, goods imported from foreign suppliers on loan basis etc.



Exemption from industrial licensing requirement for items reserved for SSI sector. 41

SERUM INSTITUTE OF INDIA LTD.



Profits allowed to be repatriated freely without any dividend 1balancing requirement



Access to Domestic Market upto 50% of FOB value of export on concessional rate of duty.



Duty free goods to be utilized in two years. Further extension granted on liberal basis.



Job work on behalf of domestic exporters for direct export allowed.



Conversion of existing Domestic Tariff Area (DTA) unit into an EOU permitted.



Can procure duty-free inputs for supply of manufactured goods to advance license holders.



Supply of ITA-I items in the domestic market which would be counted for fulfillment of NFE.



EOUs in agriculture and horticulture engaged in contract farming may be permitted to take out duty free goods listed in Appendix 14-I to the fields of contact farmers for production.

ELIGIBILITY FOR SETTING UP OF EOU :

An EOU can be set up by any entrepreneur for manufacturing of goods and also for rendering services. An EOU can be set up for repair, reconditioning, re-making and re-engineering also.



Trading activity is not allowed in the EOU Scheme.



EOU unit is required to achieve only positive Net Foreign Exchange over a period of 5 years.



Policy for EOU is given in Chapter-6 Foreign Trade Policy and Chapter 6 of Handbook of Procedure (Vol. – I)



EOU can also be set up in the following sectors: -

 Agriculture  Animal Husbandry  Aquaculture  Floriculture  Horticulture 42

SERUM INSTITUTE OF INDIA LTD.

 Pisciculture  Viticulture  Poultry or  Sericulture

PROCEDURE TO APPLY FOR EOU 

All application is to be filed with the concerned development commissioner of special economic zone. The unit/promoter should have RCMC certificate and IEC for availing the permission.



After submitting the application form and if everything is in order, LETTER OF PERMISSION (LOP) is issued by the zone administration within 2 weeks after interview of the promoter by the Approval Committee.



A legal undertaking to be executed by the unit to abide by the terms and conditions of the LOP.



After then, approval from the state government is required for which the manufacturing and other activities have to be undertaken under custom bonds for which formal application is to be made to the deputy commissioner of the custom. The application should include:-

 Copy of notification under which the place has been declared as warehousing station.  Copy of LOP and LUT.

43

SERUM INSTITUTE OF INDIA LTD.

 Detail of the premises including ground plan, purchase/rent, and allotment letter from the industrial development corporation (if any).  List of raw material, consumables and capital goods etc. required.

 Details about the firm including its proprietor/partners/directors.  Undertaking that the cost recovery and the other charges shall be paid. 

After verification of the premises and the relevant documents, the requisite license under section 58 and 65 of the custom act will be issued by the assistant commissioner/central excise /deputy commissioner customs on priority basis.

44

SERUM INSTITUTE OF INDIA LTD.

IMPORT PROCEDURE IN SEZ/EOU The Units in SEZ/EOU or Developer of SEZ/EOU to follow the following procedure for import:

After negotiation with supplier, purchase department raises purchase order on overseas supplier and decides the terms of payment, Incoterm, mode of delivery and delivery schedule.



Since most of the goods of SIIL are highly perishable, after shipment takes place, supplier is instructed to immediately intimate/provide the shipment details i.e. Commercial Invoice, Packing List, Air way Bill and Test Reports etc. to the purchase department.



After getting the above mentioned documents from the purchase department, EXIM prepares Bill of Entry for home consumption.



The authorized officer shall register the Bill of Entry, give a running serial number and assess the Bill of Entry which will require the counter signature of the specified officer (Asst./Dy/Jt. Commissioner of Central Excise & Custom).



The assessment of Bill of Entry shall be based on self declaration and will not be subjected to routine examination. If examination of the cargo is required, the same has to be carried out at the SEZ/ EOU gate or if it is not possible, in an area notified by the specified officer for this purpose.



In case of goods, including capital goods supplied on free of cost or on loan or lease basis, the Bill of Entry should be filed jointly by the SEZ/EOU importer and supplier. This is applicable to domestic supplies too.



The registered or assessed Bill of Entry must be submitted to the custom officer at the place of import and the said Bill of Entry shall be treated as permission for transfer of goods to the SEZ/EOU.



SIIL is having its own custom clearance setup in Mumbai. After receipt of assessed Bill of entry, they liaison with customs officials. Air lines/shipping company for delivery of cargo for dispatch to SBBPP, Pune.

The above described import procedure of EOU/SEZ carried out in the SERUM INSTITUTE OF INDIA LIMITED is explained diagrammatically as follows:45

SERUM INSTITUTE OF INDIA LTD.

Negotiation with supplier

Raising of purchase order by purchase dept.

Submission of document by supplier to purchase dept. (Commercial invoice, packing list, AWB, test reports)

Preparation of Bill of Entry by EXIM department

Filing of said Bill of Entry with authorised officer

Registration of Bill of Entry, giving Serial number & assesing the same by Authorized officer

Submission of assesed Bill of Entry to Customs officer at the place of port

Said Bill of Entry is treated as permission for transfer of goods to SEZ & Stamped on 5th copy of Bill of Entry

The delivery of cargo will be allowed at the destination on the strength of Bill of Entry assessed at SEZ without any transportation Bond 46

SERUM INSTITUTE OF INDIA LTD.

PROCEDURE AT SEZ/EOU ON ARRIVAL OF THE CARGO:

The procedure followed at SIILs SEZ/EOU on arrival of the cargo is explained below in detail along with the flow chart. On arrival of goods, or sealed truck, seal on container or on the truck, as the case may be, shall be verified by the authorized officer at the SBPP gate of entry.



On arrival of less than container load cargo, verification of marks and numbers shall be carried out at random by the authorized officer at the SBPP gate of entry.



The fifth copy of Bill of Entry bearing endorsement of the authorized officer that the goods have been received in the SBPP to be submitted to the customs officer in charge of the airport or port or inland container depot or land customs station or public/Pvt. bonded warehouse as the case may be within 45 days from the date of clearance from such airport/seaport/warehouse etc as the case may be failing which the officer in charge of airport/seaport/warehouse etc shall write to the specified officer of SEZ for raising demand of applicable duty from SBPP importer .



Endorsement regarding verification of marks and number in case of less than container load or inspection of seal in the case of full container load cargo or sealed truck by the authorized officer and the receipt of goods by SBPP importer shall be the completion of the custom procedure for receipt of goods.

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SERUM INSTITUTE OF INDIA LTD.

Arrival of Cargo

Verification of seal on container by Authorized officer at the gate of SBPP

Random verification of marks and number by Authorized Officer: 1) In case of less supply intimate supplier regarding shortage 2) If goods are upto the mark then intimate Bombay Customs that goods are received within 45 days

REMOVAL OF GOODS FROM SERUM BIO-PHARMA PARK: In Special Economic Zone, every out going material is monitored by custom officials, provided that the exporter shall intimate the specified officer of such export details in advance. Also entry of each material is to be done by the customs authorities in the respective customs registers after physical verification of consignment before goods enter into the SEZ. Types of receipt are as given: 1. Export a. Physical Export (by Air, Land & Sea) b. Inter Unit Transfer 48

SERUM INSTITUTE OF INDIA LTD.

2. DTA Sale a. Sale of product in DTA b. Sale in DTA of Rejected Goods/Removal of Rejection c. Sale in DTA of Scrap Material 3. Other Removals a. Removal of material for Sub-contracting process b. Removal of goods for Repair/Test/Calibration/ Replacement

REMOVAL OF GOODS

EXPORT

DTA SALES

OTHER REMOVALS

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SERUM INSTITUTE OF INDIA LTD.

THE PROCEDURE FOR EXPORT FROM SEZ/EOU: Marketing Department gets purchase order from foreign customers

Preparation of Preshipment documents (invoice, packing list) and forward it to EXIM dept.

EXIM prepares Shipping Bill in Quadruplicate, GR/SDF form

Shipping Bill is filed with authorized officer along with invoice packing list, GR/SDF form

Since SIIL is Exporting Pharma products, get NOC certificate on back side of Shipping Bill from Assistant Drug Controller (ADC)

Authorized officer registers Shipping Bill and gives running serial No and DO Assessment

Self sealing of container/ package by representative of company gives self certification and 'Let Export Order' is given on the basis of self certification

Onward entry has to be done in export gate registered and running Serial No. should be Mentioned on back side of original and duplicate Shipping Bill

Duplicate and Triplicate copies of the Shipping Bill will be handed over to Exporters Representative as a proof of receipt of consignment

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SERUM INSTITUTE OF INDIA LTD.

THE COMPARISION BETWEEN SEZ AND EOU

S.NO 1.

SEZ

EOU

SEZ units can be set only in EOU can be set anywhere in India designated SEZ’s

2.

A SEZ unit has to be new unit. Running DTA unit can be converted into EOU No Conversion is allowed.

3.

DTA sales allowed on payment DTA sales up to 50% of FOB Value Of Exports of full Duties

4.

permitted on Concessional Rate of Duty

Trading unit are permitted in Trading units not permitted in EOU’s SEZ

5.

No

routine

Export

examination

Import

Cargo

of Examination

of Export Import Cargo

By

by Customs

Customs 6.

Export Proceeds to be realized Export Proceeds to be realized Within 6 months Within 12 months

7.

100%

FDI

in

allowed FIPB approval required as per sectoral guideline

automatically

for

Manufacturing SEZ Units 8.

Duty Free material except CG Duty Free material except CG to be Utilized over to be Utilized over a period of 5 a period of 2 Years Years

9.

Exemption from Payment of No Exemption allowed Service Tax

10.

Retention

of

100%

Export Retention of 70% Export Earning In EEFC A/C

Earning in EEFC A/C 11.

Off shore Banking (OBU) is Off shore Banking (OBU) is not Permitted by RBI 51

SERUM INSTITUTE OF INDIA LTD.

CONCLUSION



SERUM INSTITUTE OF INDIA LTD. has been over the years being a prime exporter of vaccines to various countries. Company has good reserves and high credibility in foreign market due to which it is not facing problem related to foreign exchange risk and recoveries from importers’ abroad.



The company has kept itself in accordance with the latest change in the technology. It has now upgraded with EDI system of the filling documents to customs.



Documentation is one of the most important aspects of overseas trade.



The present procedure and documentation process, though simplified over a period of time is still lengthy and complicated.

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SERUM INSTITUTE OF INDIA LTD.

LIMITATION OF THE STUDY



Due to confidentiality some important information, which are important for the project, could not be collected.



The project is based on theoretical guidelines and as per situations prevalent at the time of practical training. Hence, it may not be apply to different situations.



The time span for the project was very short which was of 2 months, which itself acts as a major constraint. Moreover, studying the guidelines and applied it practically within such short time span was a task of great pressure.

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SERUM INSTITUTE OF INDIA LTD.

BIBLIOGRAPHY

 BOOKS REFERRED :1. M.I.Mahajan

: Export Policy,Procedures and Documentations.

2. Justin Paul & Rajiv Aserkar : Export Import Management 3. Hand book of procedures

 COMPANY JOURNALS & MAGAZINES  WEBSITES :1. www.poonawallagroups.com 2. www.seruminstitute.com 3. www.google.com 4. www.wikipedia.com 5. www.sezindia.nic.in

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SERUM INSTITUTE OF INDIA LTD.

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