Friday, 10 March 2017 (about 21 hours ago)
Business Wire India
*Mr. Pranab Kumar Das, Chief Commissioner of Customs, Chennai Zone and Mr. P.S. Pruthi, Former Member, Customs Excise & Service Tax Appellate Tribunal (CESTAT) *interacted with the participants of the Workshop on ATA Carnet and responded to several queries while clarifying doubts on the operational aspects of ATA Carnet. The workshop was organized by *FICCI *jointly with the *Federation of Indian Export Organisations (FIEO), Chennai *highlighted the importance of the ATA Carnet instrument for the business community.
The workshop drew participation from industry experts, extensive representation from export promotion councils, film associations, freight forwarding companies, customs house agents, fair and exhibition organizers. This event provided exporters and business experts with a unique opportunity to share their mutually beneficial knowledge and experiences. The industry discussed issues involved with respect to temporary imports of goods and drew benefit from the deliberations of the sessions.
ATA Carnet is a temporary admission document, which simplifies the customs procedures and clearances in a foreign country, without paying duty or a bank guarantee for temporary import into that country. Like a passport for goods, ATA Carnet allows for the goods for which it was issued to enter any of the participating countries for up to one year. An ATA Carnet holder can avoid customs declaration and can do away with security deposit or guarantee in the country of temporary importation. In India, FICCI is the sole National Guarantor for ATA Carnets.
ATA Carnet covers several areas for use including trade fairs, shows, exhibitions, meetings etc. for temporary export into a country, which is a signatory to the conventions governing ATA Carnets. Goods must be re-exported out of every country and re-imported into India within a year. At present 76 countries recognize ATA Carnet, including Australia, Canada, France, Germany, Japan, Korea, Malaysia, Spain, UAE, UK, and USA.