CUSTOMS CIRCULAR No. 12/2017-Cus, Dated 31st March, 2017
In previous blog we have seen that because of customs circular no:- 12/2017-Cus, companies may face problem and have to pay huge fine for not filing BoE within time limit because of not obtaining procurement certificate. Oh! I am safe then.. Products or samples or parts I am importing do not require any procurement certificate!” If you are thinking so.. wait.. if your supplier sending you material through CIF mode , better you should be ready to pay fine for late BoE.
Yes let’s see it with an example.
Suppose your supplier send your packet through the courier company where you do not have an A/C like DHL, FedEx, TNT, Aramax. You do not have any idea of when the packet is dispatched, through which courier company, when it’s landing in India etc. In this case courier companies do not know who you are or your company. When shipment lands here in India they ask you to give KYC. If the flight landing time is in the late night they will call you next day morning and ask for KYC documents. It may be the situation that you can’t submit the documents immediately.
If you can’t submit KYC documents in time it will be late filing of BoE and you end up with paying unnecessary fine to customs.
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