Only 3 documents required for import and export of goods

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Only 3 documents required for import and export of goods from now on.
 
In a significant step to increase the 'Ease of Doing Business' in the country, government has reduced mandatory documents required for import and export of goods to three documents each from erstwhile 7-10.
 
 
Export Import
Bill of Lading/ Airway Bill Bill of Lading/ Airway Bill
Commercial Invoice cum Packing List Commercial Invoice cum Packing List
Shipping Bill/ Bill of Export Bill of Entry

 

  • It will boost the sector by reducing time and cost of transactions.
  • The move is in step with the recommendation of an Inter Ministerial Committee set up by the centre to ease up the Import-Export business in the country.
  • It must be noted that India ranked 126 in 'Trading Across Borders' component of "Ease of Doing Business", out of 189 countries ranked by the World Bank.
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