1)What are EXIM formalities ? 2)What is custom clearance process ? 3)What is paperwork to be done in detail ?

Question

Accepted Answer

EXIM formalities include documentation, custom clearance, and paperwork.

EXIM formalities refer to the procedures and documentation required for importing and exporting goods.
Custom clearance process involves inspection and verification of goods by customs officials.
Paperwork includes bills of lading, commercial invoices, packing lists, and certificates of origin.
Other formalities may include obtaining licenses, permits, and complying with regulations.
Failure to comply with EXIM formalities can result in delays, fines, and even seizure of goods.

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