The Hindu Business Line : Cochin Customs introduces risk management system

Kochi, Dec 14 To enable seamless clearance of selected imported goods, Cochin Customs House has introduced Risk Management System (RMS), thereby making it the 13th Customs House in the country with this facility.

The objective of the RMS is to strike an optimal balance between facilitation and enforcement and enable clearance of low risk consignments based on importer’s declaration. The new system will project the Customs department as a facilitator instead of a regulator by not compromising on the quality of scrutiny, a press release said.

On an average, Cochin Customs House handles 20,000 to 25,000 bills of entry in a year.

The introduction of RMS in Customs will enable quicker clearance of goods imported and utilise existing resources in an effective and efficient manner for checking consignments that are seen as high revenue risk instead of assessing and examining all goods imported. As part of RMS, some importers will be granted an accredited client status wherein their goods will not be assessed and checked anywhere in the country.

RMS will reduce the dwell time resulting in faster clearance thus reducing the transaction costs to the benefit of the trade and increase the competitiveness of Indian business. As part of RMS, importers will file a true and complete set of documents. Scrutiny will be done on selective basis by electronic data system. System approved consignments will be exempted from concurrent audit and examination of the goods.

Customs Department introduced this quality assessment system by concentrating on selective consignments picked up electronically since majority of the consignments will be cleared without scrutiny, examination and audit. With the facility of filing documents through the e-commerce portal and e-payment facility being provided, the trade will benefit from the automation offered by customs as it will save a lot of time expediting the clearance of cargo.

More Stories on : Shipping | Excise and Customs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rs 5 lakh ex-gratia relief for Moga level-crossing accident victims

ABG Shipyard to raise $200 m for expansion

Airport shuttle contract

Cochin Customs introduces risk management system