V VIJAY BELLE 30903

V AJINKYA BHAGAT 30904

V SUBIN PHILIPOSE 30957
V VINEESH VIJAYAN 30958
V Imports of services consist of all services rendered by
non-residents to residents. In national accounts any
direct purchases by residents outside the economic
territory of a country are recorded as imports of
services; therefore all expenditure by tourists in the
economic territory of another country are considered
as part of the imports of services.
V Industrial and consumer goods
V Intermediate goods and services
V Companies import goods and services to supply to the
domestic market at a cheaper price and better quality
than competing goods manufactured in the domestic
market. Companies import products that are not
available in the local market.
V Looking for any product around the world to import and sell.
V Looking for foreign sourcing to get their products at the cheapest
price.
V Using foreign sourcing as part of their global supply chain.
V Direct-import refers to a type of business importation involving a
major retailer (e.g. Wal-Mart) and an overseas manufacturer.
V A retailer typically purchases products designed by local
companies that can be manufactured overseas.
V In a direct-import program, the retailer bypasses the local
supplier (colloquial O

O) and buys the final product
directly from the manufacturer, possibly saving in added costs.
This type of business is fairly recent and follows the trends of the
global economy.
V IMPORT ORDER
V ORDER OF ACCEPTANCE
V TRANSPORT DOCUMENTATION
V BILL OF ENTRY
V An import order is a commercial transaction which is
not only important to the importer and exporter but is
also concerned to their respective countries.
V Since it affects the balance of payment position of both
the countries.
V The importer is required to produce copies of import
order to various government departments are financial
institutions.
V Order acceptance is prepared by the exporter
confirming the order received from overseas importer.
V Under the order acceptance,the exporter gives his
confirmation to the order placed by the importer and
commit the shipment of products covered at the
agreed price during a specified time.
V The order acceptance normally covers the name and
address of the course of the country of final
destination, the description of goods, quantity,
price,terms of delivery, etc.
V Following documents are used in import as
transport documents:
˜
˜
: Bills of Lading
 
: Airway Bills / Air consignment
note
 ˜˜: Railway Receipt /Consignment
V This document is used in case of import business.
V It contains details like quality,quantity, no. of
packages, etc. when goodes enters the dock of
importing country.
V The Bill of entry is a document prepared by the
importer in the prescribed form under the bill of entry
regulation 1971.
V It is prepared in three copies. In case the details of
goods is not known to the importer the agent can
prepare bill of sight nd then check the goods at the
dockand later prepare bill of entry.
A. Bill of entry in case of goods for home consumption.
It is white in colour.
B. Bill of entry for free goods which can be imported
without paying custom duty.It is yellow in colour.
C. When goods are kept in bounded warehouse it is
green in colour.