Export General Manifest (EGM) [Importance Explained]
If you want to know what is Export General Manifest (EMG) is?
You are on the right page!
With the help of this article, you can under the importance of the Export General Manifest (EGM) in export.
Hello, friends welcome to another fresh article from “Indincustoms.info”, Here in this article I explained What is Export General Manifest (EGM) is and how does EGM works?
If you are working in the export industry you need to understand the importance of export general manifest in export.
This article will help you to understand everything about export general manifest (EGM). EGM is likely similar to Import general manifest (IGM).
What Is Export General Manifest (EGM)?
Export general manifest (EGM) is filed by the shipping carrier of goods, once after ‘export’ takes place.
If you want to export goods, shipping bill filing is mandatory for any exporter.
A shipping bill is a legal document to be filed with customs for the export customs clearance of goods.
The exporter or their agent complete the customs clearance process with the shipping bill and all the supporting document and hand over the cargo to the carrier.
Once when carrier gets the “let export order” as proof of completion of the export customs clearance process, the carrier moves the cargo.
After sailing vessels or aircraft crossed the territorial border of a country the definition of exports takes place.
The carrier files the export general manifest (EGM) with customs according to the data provided in the shipping bill.
I hope now you understand what is EGM and who will file EGM, Now let’s take a look at why EGM is important.
Why Export General Manifest Is Important?
The Shipping line or aircraft carrier file EMG with customs only after the goods crosses the territorial borders of the export country.
EGM is the proof of the export of goods.
Customs release export promotion copy (EP copy) and Exchange control copy of shipping bill to the exporters based on such EGM filed by the shipping carrier of goods.
Export promotion copy and Exchange control copy of shipping bill is the most important document. it is the proof of export.
Exporters get various export promotion benefits like- Drawbacks, MEIS licenses, etc… based on export promotion copy.
And without exchange control copy exporters are not able to get payment for exported goods.
So, it’s very important to file EGM to get an EP copy and an Exchange control copy of the shipping bill from customs as proof of export.
I hope this article helps you to understand what is export general manifest is and you come to know that who will file EGM. If anyone has any suggestions or queries please comment in the comment box.