Led by Principal Commissioner, Hyderabad Customs Commissionerate D.P.Naidu, speakers at a workshop organised by industry body Federation of Indian Chambers of Commerce and Industry (FICCI) here on Monday sought to highlight the significance of ATA Carnet, an international uniform customs document, for trade and business.
Noting media, cinema, entertainment sectors have been the ones primarily using, Mr.Naidu said major usage of the document issued in 79 countries, including India, which are parties to the Customs Convention on ATA Carnet, was witnessed for the Formula E race earlier this year with cars imported and exported back.
Duty free temporary admission of a number of goods into a member country is permitted under ATA Carnet, without the need to raise Customs bond, payment of duty and fulfilment of other Customs formalities in one or a number of foreign countries. FICCI is the national issuing and guaranteeing association, for the operation of ATA Carnet system in the country, the industry body said in a release on the workshop.
Mr.Naidu said Hyderabad Customs will be in the forefront in terms of facilitating any ATA Carnet utilisation. With Hyderabad air cargo having an international courier terminal for export, at the international airport, the office will soon facilitate courier imports too. At present import courier comes through Bengaluru.
Trade facilitation expert and Consultant to ADB Satish Kumar Reddy said though ATA Carnet is yet to become popular in the country it offered huge potential. Reduced paperwork, for users and officials, besides no need for businesses to make deposit of a personal or real guarantee at the border point of each country of temporary admission are among its advantages.
FICCI Director S. Vijayalakshmi, FTCCI Senior Vice President Suresh Kumar Singhal Chair were among those who spoke.