Settle import payments against bills of entry in IDPMS

Link every outward import remittance, including advances, to the bill of entry for the goods and reconcile open entries with the bank's IDPMS statement each month. Treasury can obtain extensions or closures from the bank while Procurement recovers advances for goods never shipped.

Starts when

Remittance of an import payment, including advance payments; filing of a bill of entry; monthly review of open entries.

Runs: Per import payment, with a monthly reconciliation

People in the process

TTreasuryProcess Owner
PProcurementParticipating Team
IImport DeskParticipating Team
FFinanceParticipating Team

The process is a starting point. The standards are yours.

Configure for the product, route, authorisation and applicable trade requirements. Export-realisation monitoring and eBRC work are separate processes with separate completion evidence.

Keep the work connected.

Finance

Reconcile export shipping bills with realised proceeds in EDPMS

Match each shipping bill and services invoice to its inward remittance, e-BRC and the bank's EDPMS outstanding statement every month. Finance can take short receipts, extensions and write-offs to the authorised dealer bank and keep every open export entry realised, extended or closed.

LSTC

Import Desk

Approve classification and valuation before filing bills of entry

Check the customs broker's tariff heading, assessable value, exemption claims and permit requirements against the product master, commercial invoice and purchase terms. The Import Desk can sign off the self-assessed duty with Indirect Tax, and errors found after filing are paid voluntarily with interest.

PIF

Indirect Tax

Reconcile shipping bills and GST returns for IGST refunds

Match the invoice number, value and IGST on every shipping bill with the export invoices in GSTR-1 and the tax paid in GSTR-3B. Indirect Tax can correct mismatches before filing and track each failed shipping bill until the refund is credited.

FLT

Explore all Import & export processes.

Order for the work. Room for the people.