Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Out of 139 countries, the LPI had placed India on the 47th
spot in 2023, down from 40 in 2018
The digitalisation of customs clearance ensures paperless trading,
enabling traders to submit clearance documents online along with supporting
documents instead of maintaining physical papers. The digitalisation of processes done so far has reduced transaction
cost and turnaround time for trade, say experts.
Presently, in the customs process, SWIFT allows importers and exporters
to submit their clearance documents online at a single portal; ‘Turant Customs’
streamlines export approval process; ‘E-Sanchit’ allows traders to upload all
supporting documents digitally for obtaining clearance, and ‘ULIP’ connects
different logistics systems and facilitates communication between them. Sources
said a single portal, which integrates all these separate portals, is in the
works and likely to be operational within two years.
Mr. Jitendra Motwani, partner, Economic Laws Practice, said digitalisation measures have streamlined operations, which in
turn helped reduce human-induced errors and inefficiencies. Experts
also suggest that the customs department should come out with an enabling
module for its trade facilitative schemes for online compliance. An example
in this regard could be enabling online bond-to-bond transfer for Manufacture
and Other Operations in Warehouse (MOOWR) units which shall help the exporter
to close the bond at the port of entry, online, once the product is exported.
This is done manually at present.
Mr. Pratik Jain, partner, PwC India suggests that the customs compliance data should be integrated with the
company’s enterprise resource planning (ERP) systems, as is the case
under GST. The compliance time and costs of companies will reduce in this
case.
The ERP, in simple
words, is a software that efficiently manages all the core business processes
of an organisation in an integrated system. Core processes include: finance,
HR, manufacturing, supply chain, etc.
