FICCI India's Sole National Issuing & Guaranteeing Association (NIGA) for ATA Carnet
Aug 24, 2021
NEW DELHI, 24 August 2021: NEW DELHI, 24 August 2021: Mr Ajay Agarwal, President, The Apparels & Handloom Exporters Association (AHEA), Chennai today interacted with the participants of the webinar on 'ATA Carnet' Facilitates Duty Free Temporary Export/ Import of good into multiple foreign countries' and highlighted the importance of ATA Carnet instrument for the Apparel & Handloom sector.
Mr Agarwal in his welcome address said, "The workshop is a great initiative by FICCI in educating people on the use of Carnet and appreciating the value it brings to the export community."
Mr PS Pruthi, Senior Consultant, FICCI and Former Member, Customs Excise & Service Tax Appellate Tribunal (CESTAT) spoke on ATA Carnet and its introduction, analysis, and role towards a smooth transit from one country to another. He said commercial samples, professional equipment and goods meant for fairs and exhibits could be exported or imported under carnet.
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 78 countries recognize ATA Carnet, including Australia, Canada, France, Germany, Japan, Korea, Malaysia, Spain, UAE, UK and USA.