Companies that import and export goods from and to other countries have to deal with custom authorities to obtain clearances. To avoid the headache, companies usually hire services of experienced customs broker. Before doing international business, you must have clear understanding of various regulations and laws. Many businessmen do not realize the complexity of compliance needs and hence get trapped.
Why you must hire a customs broker service
In this article, you will learn about the reasons why you need to hire the customs broker services. Every year more than 2 lakh importers deal with the customs brokerage. The custom clearance could be confusing for someone who has no knowledge. Customs brokerage service includes roles like gathering necessary information in specific format followed by clearance of cargo on importer’s behalf. They have to comply with all the essential customs process.
The professional has working knowledge of when to pay goods and service tax. At the time of exports, GST is not applicable. The brokers are fully aware of the regulations and hence can identify when an export is zero rated.
They will help you to avoid adverse tax implications. They will recover GST paid on the imports in an efficient manner to make sure that there are no sunk costs involved. They will ensure that the process is easy and quick.
Potential issues that might arise while importing
Several issues might arise if you are a non-resident firm and wish to import cargo under your name. The local authorities might suggest going for a permanent establishment. However, it is wise to take suggestions from experienced broker before making a well-informed decision. They will have expertise in handling such cases. They might help you in identifying the party who can be importer of record. In this way, you could prevent the liabilities of both parties and obtain imported goods.
In the current scenario, as international trading has increased, so does the need for customs brokers. Clearit Customs brokerage has raised it bar from basic collection of information and transformation into business intelligence. It also offers specialized assistance and help exporters as well as importers in preparing fresh product lines. They help entrepreneurs and small sized businesses to expand into newer markets. The companies will be able to assess global changes and bring overall costs down.
Other useful roles offered by these professionals include:
- Supervising the shipment
- Handling government and legal procedures
- Prompt shipment as well as the delivery processes
If the company wishes to avoid spending on unnecessary brokerage fees, they may choose to get everything done in house. However, in this way they will be spending precious time over this job. On the other hand, those who outsource such back-office tasks to reputed service providers can get the task done in less than half of the time. In this way, the productivity of the workforce will improve.
You must choose a reliable and efficient customs broker service for your business requirements. In order to make a well informed and wise decision, you could explore the internet. Shortlist some of the reputed companies with 4.5 – 5-star ratings. Get in touch with them and check their testimonials section. Talk to their executives and ask for the referrals. You could talk to their previous client to learn about their quality of service.