The Customs Department notified on 27 September that exporters need to make real-time trade reporting to facilitate trade, as per its notification 005/2024.
Customs Department is making continuous efforts to ensure smooth trade flow. Real-time information on exported goods is sent simultaneously to the departments concerned upon allowed shipment. Regarding short shipment and ED cancellation reports, there will be amendments in export documents and bills of lading for trade quantity, description of goods and cost.
Yet, some companies are found to fail to send real-time data of short shipments and ED cancellation months after allowed shipment, causing amendments in trade data of the departments concerned and hindering the repatriation process of export earnings.
In order to ensure the accuracy of trade data statistics, exporters need to fill in export declarations with correct information about the type, quantity, and destination of goods to be shipped. Customs Department stated that they need to immediately send a letter to Customs officers in case of amendments in trade data, short shipment, or cancellation. — NN/KK
