How many time have you heard of some one whose import shipment is lying at the port uncleared for a long time? I am sure if you are into the business of global trade you must have heard of it umpteen number of times.
To avoid such occurrences one must take certain precautions:
1. Please note that ‘mis-declaration’ is a national crime and government treats it very strictly. Mis-declaration should be avoided.
2. Under-invoicing can be a cause of problem if you cannot justify the Invoice-Value with Suppliers’ price-list.
Cost of Clearance can be brought-down using simple tips given below:
1. Get your Invoice, Packing List and B/L before your shipment has landed. This will save the time required to prepare preliminary documents. You would also come to know of any discrepancy in the documents which may require amendment. Demmurrage and detention can be avoided if your documents are there to study prior to landing of shipment.
2. Involve your Customs Broker right from the moment you contemplate any new new import. This would help you understand the Import Duty Structure for the specific items. You may actually bring down your cost with professional guidance from your Customs Broker.