1. What is an Importer Exporter Code (IEC)? Answer: An IEC is a 10-digit code required for anyone engaging in import/export activities. 2. What is a Bill of Entry for importers? Answer: A Bill of Entry is a legal document filed by importers with customs before the goods are cleared for customs clearance. 3. What documents are needed for customs clearance? Answer: Common documents include Bill of Entry, commercial invoice, packing list, insurance certificate, and certificate of origin. 4. What is the Customs Duty and how is it calculated? Answer: Customs Duty is a tax levied on imported goods. It can be calculated based on the value of the goods, their classification, and the applicable tariff rates. 5. What is a Harmonized System (HS) code? Answer: HS codes are used to classify goods for customs purposes. It’s a normalized arrangement of numbers and names to group specific exchanged items. 6. Are there any limitations on importing specific exchanged merchandise? Answer: Yes, certain goods are subject to restrictions or prohibitions. Check the DGFT’s Import Policy for a comprehensive list. 7. Do somebody have to pay Goods and Services Tax (GST) on merchandise which are imported? Answer: Yes, GST is applicable on imported goods. It’s calculated on the assessable value plus customs duties. 8. Can I import goods without an IEC? Answer: No, an IEC is mandatory for importers in India. 9. What is FTA (Free Trade Agreement)? Answer: FTAs are agreements between countries to reduce or eliminate tariffs on certain goods. 10. How can I claim exemptions or concessions on customs duties? Answer: If your imported goods fall under specific categories, you may be eligible for duty exemptions or concessions. Check the customs notifications for details.

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