Pre -Shipment inspection in bawal

Product Description

CIL Provides Accredited Pre-Shipment Inspection Services in Bawal, Haryana, India. CIL is an ISO 17020 accredited inspection body. CDG provides pre shipment inspection (PSI) services togovernments as a way of protecting import revenues for themselves and their citizens.Governments implement PSI programmes to ensure that imports comply with theirregulations. Non compliance with these regulations can result in, The loss ofvaluable duty and tax revenue, The loss of foreign exchange reserves (incountries where exchange controls exist), The potential importation ofsubstandard or prohibited goods. A physical inspection of goods is carried outin the country of export pre shipping, establishing the exact nature of thegoods. The invoice and other documents are then scrutinised and an accuratevaluation, and customs tariff code, are assigned. These are used, inconjunction with, the client countrys published duty rates, to calculate thecorrect duties and taxes payable. An CDG certificate is then issued to theimporter. This is used to substantiate the payment of full duty, prior toclearing the goods. The actual duty collected is compared with the CDGcertificates, and any shortages can be investigated and corrected.

Benefits, CDG Pre Shipment Inspection (PSI) maximises dutycollections. By undertaking duty assessment in the country of export, importershave no opportunity to pressurize customs to assign lower rates. Compliancewith the World Trade Organisation (WTO) Agreement on Customs Valuation is nowmandatory for all members. Without CDG PSI, countries introducing the Agreementinvariably experience a reduction in revenue collections. CDG ensures that theAgreement is fully implemented as required by the WTO, and in a way thatmaintains duty revenue collections. Trade facilitation, inefficient Customsadministrations and the failure of importers to comply with import procedurescan both delay trade. An CDG certificate ensures rapid Customs clearance, byundertaking the necessary physical and documentary inspections before theconsignment is dispatched. CDG PSI deters capital flight in countries whereexchange controls exist by preventing deliberately inflated invoicing. This candeplete foreign exchange reserves, which can also reduce the taxable incomedeclared by multinational companies. CDG PSI significantly reduces theincidence of illegal imports, such as radioactive waste, by inspectingshipments in the country of export before dispatch. As a PSI programme takeseffect, so a vast database of vital trade information is created, which can besupplied to the Client Government in a variety of formats, as an aid toeconomic decision making and to induce confidence in donors. The Pre shipmentInspection Certificate (PSIC) is one of the mandatory documents for the importof shredded, un shredded, compressed, and loose forms of metallic waste andscrap. According to the Foreign Trade Policy of India, the importer needs tofurnish the original copy of the PSIC document for customs clearance. Due tothe prevailing lockdown for COVID 19 pandemic, the importers are facingdifficulties in furnishing the original copy of PSIC for custom clearance. Toaddress such issues, the Director General of Foreign Trade (DGFT) has videdTrade Notice No. 09.2020 20201 clarified that the scanned copy of the Pre shipmentInspection Certificate will be accepted for custom clearance and the originalcopy of the PSIC needs to be furnished to Customs within 60 days of theclearance.