How to Create CSB-V Shipments?
Once your business starts growing and you decide to lock your eye into the international market there are number of provisions that are needed to be taken care for shipping successfully. There are many laws that govern the export of goods from India, that you might be unaware of during this phase. Knowing these laws and criteria is essential for anyone starting an international e-Commerce business. International trade has offered Indian SME's with an incredible opportunity to explore & tap the international market and take their business to a wider range of customers. However, when it comes to foreign trade, the primary issue, most of the sellers face is the Customs Clearance and other paperwork that's required for shipping. Customs Clearance One of the biggest concerns that shipper face is of Custom clearance. Clearing the product from customs is a very big hindrance if you do not have enough expertise and knowledge in International shipping. If you want to take advantage of the global market, you should be aware of the CSB-V of all the other things, which not only facilitates easy customs clearance but also offers tax benefits. What is CSB-V? CSB-V stands for Custom Shipping Bill 5. It is an amendment done by Custom Board of Indirect Taxes & Customs (CBIC) to CSB 2. According to new notification issued by CBIC in Aug 2018, commercial shipments which are worth less than INR 5,00,000 can be sent through courier mode with the help of CSB-V shipping bill. Furthermore, shippers will now be able to obtain GST returns, which was previously not possible with CSB 2.