How to bill of entry?

• Vessel's name, port of shipment, country of origin and country code, country of consignment and its code (if different from the country of origin), date on which bill of lading was issued.
• Details regarding the goods and their value:

A bill of entry is a legal document that is filed by importers or customs clearance agents on or before the arrival of imported goods. It’s submitted to the Customs department as a part of the customs clearance procedure. Once this is done, the importer will be able to claim ITC on the goods. The bill of entry can be issued for either home consumption or bond clearance. When it is issued for bond clearance, the bond number and date of issuance should be included.

Bill of entry should be issued by:

Once the bill of entry is filed, an authorized Customs officer will examine the goods.  Then the importer of goods should pay the basic customs duty, IGST, and GST compensation cess to clear the goods. The importer can claim ITC for the IGST and compensation cess, but not for the basic customs duty.

Based on the rules prescribed by the Government, here is what a sample bill of entry will look like in the GST regime:

NOTE: Most taxpayers will enter their GSTIN (or provisional GSTIN) in the IEC field. If they don’t have a regular or provisional GSTIN, they can use their PAN/UIN. Based on this, the importer will be provided ITC for the IGST and compensation cess that was paid to clear the goods. However, ITC can not be claimed on the basic customs duty that is paid for the goods.

Packages and quantity:

Customs duty

Additional duty

I am facing a problem in calculating accessible value entered in the Bill of Entry. Can someone help me solve the following problem?

Invoice Value: $5234.00 USD

Miscellaneous Charges: $1525.00 USD

Exchange Rate: 54.65 INR

Unit Price: $47.70 USD

Quantity: 60 No's

Accessible Value: 203999.87 INR

They have calculated Customs and other duties on this Assessed Value.

Kindly explain to me how they arrived at this Assessed Value, since the actual value is = 156408.3INR.(47.7*60*54.65).

It's very urgent. We have to make the payment.

Note: Cargo Handling Charges

Delivery order fee: Rs.2500

BB Fee: Rs.500

APT Handling: Rs.250

Sub Total: 3250

Service Tax: 402

To enable the authorities to accurately and correctly inspect imported goods, each consignment comes with a set of documents that detail a consignment’s contents, the country that it was exported from, import licenses, bills of lading, insurance certificate, commercial invoice, and so on. Among these documents is the bill of entry. The Bill of Entry is one of the most important import documents.

Table of Contents:

As the name suggests, a Bill of Entry in import is a legal declaration document filled by an importer or a customs house agent under the Bill of Entry Regulations. It’s an important document required to initiate the import customs clearance process in a country. An importer has to specify all the necessary details in the Bill of Entry, including the type, quantity, and quality of goods that they’ve imported from a foreign country.

Once the customs authorities of both importing and exporting countries approve the goods, they’re then passed on to the importer.

A Bill of Entry is comparatively simpler to fill with a limited number of form fields. Ideally, the document includes the following components:

After filing the Bill of Entry, a commissioned customs magistrate will inspect the goods. Post the inspection, the importer is informed about the necessary customs duty, GST, and IGST compensations, if applications, to clear the goods for final dispatch to the importer’s destination. An importer can then assert a claim on input tax credit (ITC) for IGST and other payments. This, however, does not include standard customs duty.

As per the officials, a Bill of Entry can be acquired from the customs office or online through the official government site. For instance, an importer in India can fill a Bill of Entry by logging on to ICEGATE or request a clearance agent to do the needful in lieu of a nominal fee.

Every government has its own set of rules describing a Bill of Entry. However, here’s a basic format for a Bill of Entry.

Every document mandated for imposters and exporters to fill has a legal significance behind it. The Bill of Entry is no exception.

A Bill of entry:

To conclude, this is just an overview of what you need to know about the Bill of Entry. Since it’s one of the most important documents for an import in a country, you must get in-depth knowledge about this bill and its corresponding documents besides understanding the meaning of the Bill of Entry, to ensure a smooth goods importation process.

The Bill of Lading and the Bill of Entry are two completely unique documents. Here are the major differences between them.

Who will prepare the bill of entry?

The Bill of Entry is prepared by an importer declaring the value, quantity, and necessary details of the goods imported into the country.

What is the BOE in import?

Bill of Entry in import is an essential document filled by an importer on or before the arrival of imported goods in a country declaring necessary consignment details. The bill enables the customs office to verify the consignment details and release them to an importer’s site.

How do I make a bill for entry payment?

Every country has its own defined method of payment for the Bill of Entry. In the United States particularly, you can make Bill of Entry payment through any of the following ways:

How is the BOE value calculated?

Usually, the value of the Bill of Entry is calculated through the following formula:

Step 1: Transaction Value that contains free on board (FOB) and a few adjustments)

A bill of entry is a legal document that is filed by importers or customs clearance agents on or before the arrival of imported goods. It’s submitted to the Customs department as a part of the customs clearance procedure. Once this is done, the importer will be able to claim ITC on the goods. The bill of entry can be issued for either home consumption or bond clearance. When it is issued for bond clearance, the bond number and date of issuance should be included.

Bill of entry should be issued by:

Once the bill of entry is filed, an authorized Customs officer will examine the goods.  Then the importer of goods should pay the basic customs duty, IGST, and GST compensation cess to clear the goods. The importer can claim ITC for the IGST and compensation cess, but not for the basic customs duty.

Based on the rules prescribed by the Government, here is what a sample bill of entry will look like in the GST regime:

NOTE: Most taxpayers will enter their GSTIN (or provisional GSTIN) in the IEC field. If they don’t have a regular or provisional GSTIN, they can use their PAN/UIN. Based on this, the importer will be provided ITC for the IGST and compensation cess that was paid to clear the goods. However, ITC can not be claimed on the basic customs duty that is paid for the goods.

Packages and quantity:

Customs duty

Additional duty

IGST