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A Bhilwara or Ludhiana suiting mill importing raw wool from Turkey and polyester staple from China must reconcile every Bill of Entry against four independent data feeds — the CIF invoice from the foreign supplier, the customs house agent (CHA) bill breaking down BCD, AIDC, Social Welfare Surcharge, and IGST paid at port, the freight-forwarder invoice covering ocean freight, inland transport, and port handling, and the ICEGATE-populated GSTR-2B entry that unlocks the IGST credit in the following month's GSTR-3B. A single mismatched BoE reference between CHA and GSTR-2B leaves the IGST credit unclaimed for the period; a wrongly captured HSN routes the shipment through a stale duty rate; an ADD notification effective from a mid-month date changes the incidence for shipments cleared before or after that date. Manual spreadsheets across import cells, treasury, and GST teams typically leak 2 to 5 percent of IGST credit annually and mis-state landed cost on high-value shipments.
Build a BoE-anchored reconciliation register keyed by BoE number and BoE date. Ingest the CIF invoice from the supplier, the CHA bill of costs, the freight-forwarder invoice, and the ICEGATE BoE PDF for every commercial import. Match each BoE to its GSTR-2B Table 3.5 (Import of Goods) entry by BoE number and BoE date; where the BoE appears in the importer's register but not in GSTR-2B, raise a CHA follow-up. Compute the landed cost per shipment from CIF plus BCD plus AIDC plus Social Welfare Surcharge plus ADD (where applicable) plus CHA charges plus freight-forwarder charges — excluding IGST which is recoverable. Feed the recoverable IGST amount to the GSTR-3B ITC claim in the correct month. Maintain a date-versioned and origin-versioned HSN-to-duty-rate table so that the BoE for any shipment applies the rate in force on the Bill of Entry date for the actual country of origin.
Supplier master with foreign supplier name, country of origin, INCOTERM (typically CIF for landed-basis imports); HSN master with date-versioned BCD, AIDC, Social Welfare Surcharge, and IGST rates for HS 5101 (raw wool), HS 5201 (raw cotton), HS 5401 (synthetic filament), HS 5501/5503 (synthetic staple); ADD notification table with HSN, origin country, effective date, sunset date, and rate; CHA master with GSTIN, PAN, and TDS payment code 1023 (services with material supplied) or 1024 (services without) for CHA service invoice TDS; freight-forwarder master with GSTIN, PAN, and TDS payment code 1002 (other resident contractor 2%) or 1014 (freight for goods carriage) as applicable; Advance Authorisation and EPCG scheme flag per import where duty-free import is claimed against export obligation, with bond register reference and export obligation tracking; landed-cost fair-value settings for inventory capitalisation under Ind AS 2.
A month-end BoE reconciliation pack with every commercial import of the period: BoE number and date, port of clearance, foreign supplier and country of origin, HSN, CIF value in USD and INR, BCD paid, AIDC paid, Social Welfare Surcharge paid, ADD paid (where applicable), IGST paid, CHA charges, freight-forwarder charges, landed cost, and IGST credit availability in GSTR-2B. The pack cross-foots the GSTR-3B ITC claim in Table 4(A)(1) to the sum of GSTR-2B Import of Goods entries; it flags every BoE in the importer register that has not appeared in GSTR-2B by the return due date for CHA follow-up; and it provides the auditable landed-cost roll-forward that feeds inventory valuation and the annual statutory audit. IGST credit leak rate falls from a typical 2 to 5 percent under manual tracking to a materially lower single-digit percentage under automated BoE-to-GSTR-2B matching.
A Bhilwara suiting mill finance controller closes the October books with 12 Bills of Entry filed at Nhava Sheva and Mundra covering approximately ₹12 crore of imported merino wool from Turkey and polyester staple fibre from China. Nine of those BoEs have flowed through ICEGATE into GSTR-2B, generating IGST credit of approximately ₹58 lakh that will be claimed in the October GSTR-3B. Three BoEs — filed in the last week of October, two involving a customs officer query on assessable value and one flagged for anti-dumping duty applicability — have not yet appeared in GSTR-2B, holding up approximately ₹14 lakh of IGST credit. The landed-cost roll-forward on the fabric costing model needs to close the wool inventory at the correct capitalised cost — CIF plus BCD plus AIDC plus Social Welfare Surcharge, excluding the recoverable IGST — and the treasury team is chasing the freight-forwarder for the final invoice on the last container that arrived at the factory gate on 28 October. This is customs BCD cotton MMF textile import India reconciliation at production scale, and the discipline that closes the month cleanly is what separates a controlled import operation from an IGST credit leak that shows up eight months later at annual audit.
Quick reference
| Aspect | Detail |
|---|---|
| Governing customs statute | Customs Act 1962; Customs Tariff Act 1975 (First Schedule for BCD; Section 3 for IGST) |
| AIDC statutory basis | Finance Act 2021, Section 124 |
| Cotton (HS 5201) BCD | Historically 11% (subject to periodic exemption notifications) |
| Raw wool (HS 5101) BCD | 5% (or nil for specified categories under exemption notifications) |
| Synthetic staple fibre (HS 5503) BCD | Variable by sub-heading; often subject to ADD from specified origin countries |
| AIDC on raw cotton and wool | 5% ad valorem on assessable value |
| Social Welfare Surcharge (SWS) | 10% of BCD (unless specifically exempted) |
| IGST on imports | Section 3, Customs Tariff Act — rate equals GST rate on like domestic supply (typically 5% for raw fibres) |
| ITC eligibility for IGST | Section 16 CGST Act — credit in GSTR-3B in month BoE appears in GSTR-2B |
| CHA services TDS code | Section 8 Sl. 4 code 1023 (material supplied) or 1024 (not) — 1% Ind/HUF, 2% other |
| Freight-forwarder TDS code | Section 8 Sl. 4 code 1002 (2%) or 1014 (freight for cotton/yarn carriage) |
| Landed cost inventory basis | Ind AS 2 — non-recoverable duties capitalised; IGST excluded |
| Anti-dumping duty basis | Customs Tariff Act 1975, Section 9A — country-specific, product-specific |
The reconciliation in one paragraph
A commercial textile fibre import into India generates a Bill of Entry filed on ICEGATE by the customs house agent (CHA) on behalf of the importer. The Bill of Entry captures the CIF assessable value, the Basic Customs Duty at the tariff rate applicable to the HS code on the Bill of Entry date, the Agriculture Infrastructure and Development Cess levied under Section 124 of the Finance Act 2021, the Social Welfare Surcharge at 10% of BCD, the Integrated Goods and Services Tax under Section 3 of the Customs Tariff Act computed on the cumulative pre-IGST value, and any anti-dumping duty applicable to the specific origin country. The customs duties (BCD plus AIDC plus SWS plus ADD) are non-recoverable and enter the landed cost of imported inventory under Ind AS 2. The IGST paid at the customs port is recoverable — it flows via ICEGATE to the importer’s GSTR-2B in the month of Bill of Entry filing and becomes ITC in the same or subsequent month’s GSTR-3B under Section 16 of the CGST Act. Reconciliation runs monthly across four data feeds — CIF invoice, CHA bill, freight-forwarder invoice, and ICEGATE-populated GSTR-2B entry — with every BoE keyed by BoE number and BoE date.
What the textile fibre import chain looks like in India — safe illustrative brands
Textile fibre imports into India cluster around three shipping patterns. Wool and specialty animal fibres arrive from Turkey, Australia, New Zealand, and Iran into Nhava Sheva or Mumbai port, feeding the suiting and worsted mills of Bhilwara and the winter-wear knitwear mills of Ludhiana. Illustrative Bhilwara suiting principals in this pattern include Sutlej Textiles, Banswara Syntex, Donear Industries, Raymond, Siyaram Silk Mills, and Bombay Dyeing. Illustrative Ludhiana knitwear principals importing wool for winter-wear fabric include Vardhman Textiles and specialty hosiery firms in the region. The typical import shape is a 12,000 to 20,000 kg shipment of merino wool tops or scoured wool arriving on a 20-foot container, with CIF value in the ₹1.5 crore to ₹3 crore range and lead time of 45 to 60 days from Turkey.
Polyester staple fibre and synthetic filament arrive predominantly from China, Thailand, Indonesia, and Vietnam into Nhava Sheva, Mundra, Kolkata, and Chennai ports, feeding the man-made-fibre spinning and weaving clusters of Surat, Bhilwara, and Coimbatore. Illustrative Surat and MMF-adjacent principals include Reliance Industries (which is both a domestic producer and importer of specialised polyester grades), Filatex India, Garware Technical Fibres, and Sutlej Textiles. Banswara Syntex, Donear, and Siyaram operate blended-fibre suiting chains that pull polyester staple against Turkey-origin wool. The typical polyester staple import shape is 25,000 to 50,000 kg per shipment with CIF value in the ₹1 crore to ₹2 crore range, and the import is often subject to an active anti-dumping duty (ADD) notification on the specific origin country.
Cotton bale imports arrive predominantly from the United States, Brazil, Australia, and Egypt into Kolkata, Chennai, and Nhava Sheva ports, feeding the fine-count spinning mills of Coimbatore and Erode/Karur that produce combed cotton yarn for premium knitwear at Tiruppur. Illustrative Tiruppur-facing cotton spinners include KPR Mill, Vardhman Textiles, Trident Ltd, and specialty spinners feeding tier-2 knitwear exporters such as Shahi Exports, Gokaldas Exports, Page Industries, Lux Industries, Rupa and Co, Dollar Industries, and Pearl Global Industries. The cotton BCD regime has seen exemption notifications during periods of domestic cotton shortage — the current rate should always be verified against the exemption notification in force on the Bill of Entry date.
The regulatory overlay — BCD, AIDC, SWS, IGST, and ADD
Basic Customs Duty is levied under Section 12 of the Customs Act 1962 read with the First Schedule of the Customs Tariff Act 1975. The First Schedule specifies a rate for every HS code, and the rate applicable to any import is the rate in force on the date the Bill of Entry is filed. For textile fibres: raw wool (HS 5101) historically attracts BCD at 5% or nil under specified exemption notifications; raw cotton (HS 5201) historically attracts 11% subject to periodic exemption notifications during domestic shortage; cotton yarn (HS 5205) attracts variable rates; synthetic filament yarn (HS 5401) attracts variable rates by sub-heading; synthetic staple fibre (HS 5503) attracts variable rates by sub-heading and is frequently subject to active ADD orders on specified origin countries. The tariff rate is subject to numerous exemption notifications, and the reconciliation platform must maintain a date-versioned rate lookup with the notification reference and effective dates.
Agriculture Infrastructure and Development Cess (AIDC) was introduced by Section 124 of the Finance Act 2021 as a duty of customs on specified imported goods. For raw cotton (HS 5201) AIDC is 5% ad valorem on the assessable value; for raw wool (HS 5101) AIDC is 5%. AIDC is a duty of customs (not a cess on BCD) and is levied in addition to BCD; it enters the transaction value for IGST computation under Section 3(8) of the Customs Tariff Act. AIDC is non-recoverable and enters the landed cost of imported inventory.
Social Welfare Surcharge (SWS) is levied at 10% of the aggregate BCD under Section 110 of the Finance Act 2018, replacing the earlier Education Cess. SWS is non-recoverable. Certain categories are specifically exempted from SWS by notification — the reconciliation platform must apply the SWS exemption where applicable.
Integrated Goods and Services Tax (IGST) is levied on imports under Section 3 of the Customs Tariff Act 1975, which treats the import as a supply for the purpose of the additional duty of customs equivalent to IGST leviable on inter-State supply of a like article. The IGST rate is the GST rate on the like domestic supply — typically 5% for most raw fibres (Chapter 51, 52) and yarns (Chapters 50-55), and 5% or 12% for fabrics depending on the HSN. IGST is computed on the cumulative value: assessable value plus BCD plus AIDC plus SWS plus ADD. Unlike the other customs duties, IGST is recoverable — it flows via ICEGATE to the importer’s GSTR-2B in the month of BoE filing and becomes ITC in the same or subsequent month’s GSTR-3B under Section 16 CGST.
Anti-dumping duty (ADD) is imposed by the Ministry of Finance under Section 9A of the Customs Tariff Act on imports found to be dumped and causing material injury to the Indian industry. For MMF categories, ADD orders have historically applied to polyester staple fibre and viscose staple fibre imported from China, Thailand, Indonesia, and Vietnam, at rates specified in USD per kg or as an ad-valorem percentage. ADD is country-specific, product-specific (HSN-specific), and has a validity period (typically five years subject to sunset review). ADD is non-recoverable and enters landed cost.
Income-tax Act 2025 payment codes are relevant on the service-invoice side. The customs house agent (CHA) is a service provider; the CHA service invoice attracts TDS at Section 8 Sl. 4 code 1023 (services with material supplied — 1% for Individual/HUF, 2% for other resident) or code 1024 (services without material supplied). The freight-forwarder invoice for ocean freight, inland transport, and port handling attracts TDS at Section 8 Sl. 4 code 1002 (other resident contractor 2%) or code 1014 (freight for cotton/yarn carriage) depending on the nature of the freight leg. The GST on CHA and freight-forwarder services attracts ITC in the normal course under Section 16 CGST.
A worked example — a Bhilwara suiting mill importing merino wool from Turkey
Illustrative — the following figures represent the operating pattern of a representative tier-2 Bhilwara suiting mill importing merino wool of the scale and shape typical for the region. Public disclosures do not reveal specific Bill of Entry values; cross-verify against your own import register or CHA data before action.
A Bhilwara-based worsted suiting mill files a Bill of Entry at Nhava Sheva on 15 October 2026 for a shipment of 12,000 kg of merino wool tops imported from a Turkish supplier under a CIF INCOTERM. The invoice CIF value is USD 220,000; at the customs exchange rate notified by CBIC for October 2026 (assume USD 1 = INR 84), the CIF value in INR is ₹1.848 crore. The assessable value under Section 14 of the Customs Act is CIF plus 1% landing charge, working out to approximately ₹1.867 crore.
BCD on raw wool (HS 5101.11) at 5% on the assessable value is approximately ₹9.33 lakh. AIDC at 5% on the assessable value is approximately ₹9.33 lakh. Social Welfare Surcharge at 10% of BCD is approximately ₹93,000. There is no anti-dumping duty applicable to raw wool from Turkey. The cumulative pre-IGST value is assessable value plus BCD plus AIDC plus SWS, which comes to approximately ₹1.867 crore plus ₹9.33 lakh plus ₹9.33 lakh plus ₹93,000, or approximately ₹2.06 crore.
IGST on raw wool at 5% on the cumulative pre-IGST value of ₹2.06 crore is approximately ₹10.30 lakh. Total customs duties paid at the port sum to BCD ₹9.33 lakh plus AIDC ₹9.33 lakh plus SWS ₹93,000 plus IGST ₹10.30 lakh, or approximately ₹29.89 lakh.
The CHA raises a service invoice for approximately ₹75,000 plus GST at 18%; TDS at Section 8 Sl. 4 code 1023 at 2% is deducted on the CHA service invoice, ₹1,500 remitted. The freight-forwarder raises an invoice for ocean freight (already captured in the CIF value at the port), plus inland transportation from Nhava Sheva to Bhilwara approximately ₹1.85 lakh, plus port handling and documentation approximately ₹1.50 lakh, plus insurance for inland movement approximately ₹15,000 — total freight-forwarder invoice approximately ₹3.50 lakh plus GST at 18%; TDS at Section 8 Sl. 4 code 1002 at 2% is deducted, ₹7,000 remitted.
The landed cost of the wool shipment for inventory capitalisation under Ind AS 2 sums to CIF ₹1.848 crore plus BCD ₹9.33 lakh plus AIDC ₹9.33 lakh plus SWS ₹93,000 plus CHA charges ₹75,000 plus freight-forwarder charges ₹3.50 lakh, totalling approximately ₹2.13 crore. The IGST of ₹10.30 lakh is excluded from landed cost because it is recoverable as ITC.
The recoverable IGST of ₹10.30 lakh becomes ITC in the October GSTR-3B under Section 16 CGST. The mill’s finance team checks GSTR-2B for October by 12 November: the Bill of Entry appears in Table 3.5 (Import of Goods) with the assessable value, IGST amount, BoE number, BoE date, and port code populated. The IGST credit of ₹10.30 lakh is claimed in GSTR-3B Table 4(A)(1) — ITC available from import of goods — as part of the October return filed by 20 November. The GST on the CHA service invoice and the freight-forwarder invoice (approximately ₹13,500 and ₹63,000 respectively) is claimed as ITC in the same GSTR-3B under Table 4(A)(5) — All other ITC — subject to the invoices appearing in GSTR-2B.
The reconciliation pack for this single import surfaces the following entries:
| Line item | Value (₹ lakh) |
|---|---|
| CIF invoice value from Turkish supplier | 184.8 |
| Assessable value (CIF plus 1% landing charge) | 186.7 |
| BCD at 5% on assessable value | 9.33 |
| AIDC at 5% on assessable value | 9.33 |
| Social Welfare Surcharge at 10% of BCD | 0.93 |
| Cumulative pre-IGST value | 206.29 |
| IGST at 5% on pre-IGST value (recoverable) | 10.30 |
| CHA service charge (plus GST at 18%) | 0.75 |
| Freight-forwarder charge (plus GST at 18%) | 3.50 |
| Landed cost for inventory (excludes IGST) | 213.11 |
| IGST credit in October GSTR-3B | 10.30 |
Total cash outflow at customs port: ₹29.89 lakh. Total ITC recoverable across the shipment (IGST at port plus GST on CHA plus GST on freight-forwarder): approximately ₹10.30 lakh plus ₹0.135 lakh plus ₹0.63 lakh, or ₹11.07 lakh. Net cash duty impact after ITC recovery: approximately ₹19.59 lakh across the shipment.
Common reconciliation breakages
Five breakages recur across textile mills running high-volume raw fibre imports, and each maps to a specific control failure that a reconciliation platform should catch before the GSTR-3B filing deadline.
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BoE-to-GSTR-2B mismatch on BoE reference. The Bill of Entry number captured on the CHA bill and the importer’s register must exactly match the number ICEGATE populates in GSTR-2B Table 3.5. A single-digit typo or a port-code prefix mismatch leaves the BoE invisible to GSTR-2B lookup and the IGST credit unclaimed for the period. The follow-up is either a CHA-side correction or an ICEGATE support ticket.
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HSN misclassification on the Bill of Entry. Wool tops (HS 5101.11), scoured wool (HS 5101.19), and combed wool (HS 5105) attract different BCD rates. Polyester staple fibre (HS 5503) has multiple sub-headings by denier, tenacity, and colour, each with a different BCD rate and different ADD applicability. A HSN misclassification either over-pays BCD (wasted cash) or under-pays BCD (customs demand plus interest under Section 28). The reconciliation platform should validate the declared HSN against the physical import invoice and the mill’s fabric costing SKU code.
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ADD applicability missed on MMF imports. Anti-dumping duty on polyester staple fibre from China, Thailand, and Indonesia is country-specific and time-versioned. A shipment cleared just before an ADD notification lapse or just after a renewal notification can be mispriced by 10 to 30 percent if the reconciliation platform does not maintain an origin-versioned and date-versioned ADD table.
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Landed-cost IGST inclusion error. IGST paid at the customs port is recoverable and must not enter landed cost for inventory valuation under Ind AS 2. A common error is to capitalise the full customs bill (BCD plus AIDC plus SWS plus IGST) into inventory, which over-states inventory value and under-states current-period profit until the IGST credit is claimed. The correct treatment separates the recoverable IGST from the non-recoverable duties before capitalisation.
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Freight-forwarder invoice timing mismatch. The freight-forwarder invoice for inland transport and port handling often arrives 15 to 45 days after the physical shipment. If the mill accrues an estimated freight-forwarder cost at month-end and the actual invoice differs materially, the landed-cost roll-forward for that shipment is mis-stated and requires a subsequent-period true-up. The reconciliation platform should track freight-forwarder accruals against actual invoices with an ageing report.
How a reconciliation platform handles this
A purpose-built textile import reconciliation platform ingests the CIF invoice from the foreign supplier, the CHA bill of costs breaking down BCD, AIDC, SWS, ADD, and IGST paid at port, the freight-forwarder invoice for inland movement, and the ICEGATE-populated BoE PDF for every commercial import. The platform matches each Bill of Entry to its GSTR-2B Table 3.5 entry by BoE number and BoE date, flags every BoE in the importer register that has not appeared in GSTR-2B by the return due date, and cross-foots the GSTR-3B ITC claim in Table 4(A)(1) to the sum of GSTR-2B Import of Goods entries. The platform maintains a date-versioned and origin-versioned HSN-to-duty-rate lookup covering BCD, AIDC, SWS, and ADD, so that the reconciliation applies the rate in force on the Bill of Entry date for the actual country of origin. The platform computes the landed cost of each shipment for inventory capitalisation excluding the recoverable IGST, tracks freight-forwarder accruals against actual invoices, and produces the auditable landed-cost roll-forward that feeds the statutory audit. Match rate improvement of 51 to 88 percent on BoE-to-GSTR-2B reconciliation, combined with ISO 27001:2022 posture and DPDP Act 2023 aligned data handling, is what makes the platform an infrastructure investment rather than a spreadsheet substitute — and what closes the typical 2 to 5 percent IGST credit leak that manual tracking accepts as the cost of doing business.
Cross-cluster bridges and where to read next
Import reconciliation sits inside the broader textile cluster of Wave T4 closer articles. For the cotton-side deep dive on Bill of Entry mechanics, read BCD cotton imports customs reconciliation. For the upstream domestic cotton procurement cycle — including CCI purchase at MSP and Section 43B(h) MSME payment cycle — see Cotton supply chain reconciliation textile India and Section 43B(h) MSME 45-day powerloom procurement. For the GST rate rationalisation of September 2025 and its impact on textile HSNs, see GST textile rate rationalisation Sept 2025 impact. For the export-side revenue recovery that runs against the same import fibre stock, see RoDTEP claim reconciliation textile India and Rule 89(5) inverted-duty refund textile India. The e-invoicing threshold that applies to the CHA and freight-forwarder domestic invoices is covered in E-invoicing textile ₹5 crore threshold IRN reconciliation. Regional cluster context is in Tiruppur knitwear export reconciliation, Surat synthetic saree domestic export reconciliation, Ludhiana hosiery woollen cluster reconciliation, and Panipat home textile recycled yarn reconciliation. For OEKO-TEX and GOTS compliance on imported fibres — increasingly a buyer requirement on premium wool and cotton — see OEKO-TEX GOTS compliance reconciliation textile India. The commercial pillar for the entire textile cluster is Textile reconciliation software India; the broader authority is reconciliation software India.
The five FAQs below address the operational questions Indian textile controllers ask most often when implementing structured BCD, AIDC, and IGST reconciliation on raw fibre imports.
Content authored by practitioners with experience at Amazon India, Intuit QuickBooks, and the Tata Group. Meet the team →
- ▸ Customs Tariff Act 1975 — First Schedule (HS 5101, 5201, 5401, 5503) — Basic Customs Duty on raw wool (HS 5101), raw cotton (HS 5201), synthetic filament yarn (HS 5401), and synthetic staple fibre (HS 5503). Cotton (HS 5201) historically attracts BCD at 11%; raw wool (HS 5101) attracts BCD at 5% (or nil for specified categories under exemption notifications); synthetic staple fibre (HS 5503) attracts BCD at rates varying by sub-heading. The rate applicable is the tariff rate on the date of Bill of Entry filing, subject to any exemption notification in force on that date.
- ▸ Finance Act 2021 — Section 124 (Agriculture Infrastructure and Development Cess, AIDC) — AIDC levied as a duty of customs on specified imported goods. For raw cotton (HS 5201) AIDC is 5% ad valorem on the assessable value; for raw wool (HS 5101) AIDC is 5%. AIDC is levied in addition to Basic Customs Duty and is included in the transaction value for IGST computation under Section 3(8) of the Customs Tariff Act.
- ▸ Section 3, Customs Tariff Act 1975 — IGST on imports — Additional duty of customs equivalent to IGST leviable on inter-State supply of a like article. IGST rate on textile fibres and yarns is 5% for most cotton and wool categories under Chapter 51 and 52, and varies by HSN for MMF chapters 54 and 55. IGST is computed on the assessable value plus BCD plus AIDC plus Social Welfare Surcharge — the cumulative pre-IGST value. IGST paid at the customs port becomes ITC in GSTR-3B in the month of Bill of Entry filing under Section 16 CGST.
- ▸ Section 16, Central Goods and Services Tax Act 2017 — ITC eligibility — Every registered person is entitled to take credit of input tax charged on any supply of goods or services used in the course or furtherance of business. IGST paid at the customs port on imported goods qualifies as input tax. The four conditions of Section 16(2) must be met: possession of Bill of Entry, receipt of goods, tax actually paid to Government, and return furnished. Rule 36 requires the ICEGATE-populated Bill of Entry to appear in GSTR-2B before ITC can be availed.
- ▸ Foreign Trade (Development and Regulation) Act 1992 and Handbook of Procedures 2023 — Import Export Code (IEC) is required for every commercial import. Advance Authorisation and EPCG schemes provide duty-free or concessional-duty import of inputs against export obligation. Bond register and export-obligation tracking apply where imports are made under duty-free schemes; failure to fulfil obligation triggers customs duty payment plus interest from Bill of Entry date.