Official Document or Regulatory Documents for export and import business

Documents needed for registration
Documents needed for shipment
Include
GR form
SDF form
PP form
VP/COD form
SOFTEX form

1. Official Document or Regulatory Documents There are two types of regulatory documents: Documents needed for registration Documents needed for shipment

2. Documents needed for registration Include application and other supporting documents for obtaining: Code number from the Reserve Bank of India (RBI) Importers and Exporters’ code number from the Chief Controller of Imports and Exports Registration cum membership certificate (RCMC), etc.

3. Documents needed for shipment of goods Include GR form SDF form PP form VP/COD form SOFTEX form

4. 1. GR Form The full form of GR form is Guaranteed Remittance. It is required to be filled in duplicate for all exports other than by post. Both of the copies have to be submitted to the customs authorities at the port of shipment. They will retain the original copy to be sent to the RBI. FEATURES OF GR FORM GR form is an exchange control document required by RBI. The exporter through the GR form has to assure to the RBI that the export proceeds will be realized within 180 days. It is submitted in duplicate, to the customs, at the port of shipment along with the shipping bill and the customs certify the value declared by the exporter & also record the assessable value.

5. Customs returns one copy to exporter and retains the original for transmission to RBI. The exporter is required to negotiate the shipping documents, through his bankers (authorized dealers), along with the GR form, within 21 days of the shipment. The authorized dealer reports to the RBI after negotiation of documents and has to retain the documents till the full exports proceeds have been realized, and thereafter send the documents to RBI.

6. IMPORTANCE OF GR FORM GR is not meant for customs, but it is the property of RBI. For an economic stability of a country, all inward and outward movements of money have to be monitored and RBI is the government agency for the same. In an export trade, inward remittance from foreign country is effected and in an import trade money is transferred from importing country to a foreign country. This is the reason for involvement of RBI on each export of country through monitor of GR.

7. MECHANISM OF GR FORM The shipper collects required blank GR sets from RBI after submission of a reference letter from shipper’s authorized dealer bank. Two copies of GR original and duplicates are issued for one export shipment. One set of GR contains in duplicate. One side of each GR form would be blank and other side with printed declaration specified by RBI with columns to sign for shipper and customs official at the time of assessment of shipping bill and at the time of approving for let export after completion of export customs formalities. After collecting blank sets of GR from RBI by shipper, one set of GR form for one shipment duly signed in both copies delivers to his authorized customs broker to file documents for completion of necessary export customs formalities.

8. After receiving GR and other documents, customs house agent prepares shipping bill to file as a mandatory legal document with customs duly signed by him. The customs house agent (or shipper) arranges to make a true copy image of shipping bill on the blank side of each copy of GR, original and duplicate. After value assessment of export goods, the proper customs officers signs both copies of GR on the space allocated and again at the time of ‘let export order’ on duplicate copy of GR at the specified area. After completion of necessary export customs clearance procedure and formalities, original copy of GR is detached with customs and the said original GR is sent to RBI by customs authorities within a stipulated period of time. Duplicate copy of GR is delivered to shipper by his customs broker.

9. The shipper, along with other shipping documents submits the said duplicate copy of GR with his authorized dealer bank at the time of discounting bills or negotiation of letter of credit. The said duplicate copy of GR is sent to RBI by shipper’s authorized dealer bank. The RBI monitors the value under this export shipment (the amount receivable to the country through this particular shipper) through the said GR time to time.

10. 2. SDF Forms SDF means statutory declaration form. On account of introduction of EDI system at certain customs offices, where shipping bills are processed electronically, the existing declaration in for GR, is replaced by declaration in form SDF. PROCEDURE SDF form is to be submitted in duplicate, annexed to the relative shipping bill to the concerned commissioner of customs. After verifying and authenticating the declaration, the commissioner hands over to the exporter, exchange control copy of the shipping bill and the SDF form annexed thereto. This must be submitted to the authorized dealer, within 21 days from the date of export, along with other shipping documents for negotiation. Manner of disposal of SDF form is same as that of GR form.

11. 3. PP Form Exports to all countries by parcel post (PP), except when made on ‘value payable’ or cash on delivery’ basis should be declared on PP forms. 4. VP/COD Form It is required to be filled in one copy for exports to all countries by post parcel under arrangements to realise proceeds through postal channels on ‘value payable’ or ‘cash on delivery’ basis. Cash on delivery (COD) is a type of transaction in which payment for a good is made at the time of delivery. If the purchaser does not make payment when the good is delivered, then the good will be returned to the seller. Payment can be made by cash, certified check or money order, depending on what is stipulated in the shipping contract. This type of transaction is usually done through a shipping company and allows both the seller and the buyer of the product to minimize the risk of fraud or default. COD allows the purchaser to pay at the time of delivery instead of having to pay upfront. Payment is made to the shipping company and the shipping company relays the payment back to the seller.

12. 5. SOFTEX Form It is required to be prepared in triplicate for export of computer software in non-physical form. SOFTEX Form Procedure SOFTEX form to be submitted in triplicate to STPI/FTZ/EPZ The designated officials of Ministry of Information Technology, GOI at the Software Technology Parks of India (STPIs) or at Free Trade Zones (FTZs) or Export Processing Zones (EPZs) or Special Economic Zones (SEZs) have been authorised to certify exports declared on SOFTEX forms. The designated officials of STPIs/EPZs/SEZs also authorised to certify the Softex form Original SOFTEX form should be send directly to RBI by Certifying Agency Duplicate form will be returned to Exporter. Triplicate will be retained by STPI/FTZ/EPZ