India implement changes in the Sea Cargo Manifest filling
Since August 1st, 2019, the Central Board of Indirect Taxes and Customs of India has implemented some changes in the regulation of the Sea Cargo Manifest filling. The new legislation has the goal to improve and facilitate business.
Valid for all cargo that is arriving, departing and passing through India, these new rules will have a 45 days transition period (up to September 15th, 2019) so everyone can have time to make the necessary changes in their systems and processes.
- Sea Departure Manifest (SDM): Replaces the Export General Manifest (EGM). The SDM is required to be submitted to customs before departure/sailing of the ship from any Port of Loading in India.
- Sea Arrival Manifest (SAM): Replaces the Import General Manifest (IGM). SAM is required to be submitted to Indian customs before the departure of the ship from the last foreign port.
Also, the new documents have some mandatory data elements that are required. See below what are they:
1) HS Code: 6-Digit HS (Harmonized System) code. In this case, the customer can provide this detail either in the description or in the customer specified HS code field (Portal).
2) IEC Code: 10-digit IEC (Import Export Code) of Consignee (for imports into India) & Shipper (for exports from India).
3) PAN Number: 10-digit PAN (Permanent Account Number) of the notifying party (If the notifying party is from India).
4) Invoice Value: Value of the cargo along with currency (3-digit alphabetical code) as per commercial invoice.
And attention! The non-compliance of the new requirements can cause some problems for the company: it can stop the cargo load and can hold back the emission of the original Bill of Lading. In this last case, the entire risk, cost, and consequence of the error will be entirely on the trader’s account.
So, if you have any cargo going to India or leaving the country, don’t forget to comply with these new rules and prevent any problems.