Customs - All India Roll Out of RMS for Export
Legal Corner Icon — the image was hosted by the publisher and was not captured.FINANCE Minister Chidambaram yesterday inaugurated the All India rollout of an IT based Risk Management System (RMS) for the Customs clearance of export goods in the presence of representatives from the trade and industry at New Delhi.
The Finance Minister said that RMS is a trust based IT system that expects the trade to make correct declarations to Customs. It is a trade facilitation measure, which on implementation would reduce dwell time from few days to few hours. In view of its obvious advantages, RMS is also being endorsed globally at all forums including WTO.
The FM also emphasized that success of any trade facilitation measure depends on compliance of legal requirements by trade. He urged the trade to comply with the legal provisions so that Customs can ensure speedy clearance of the import and export goods.
The launch of RMS in exports covers 11 Customs stations at Bangalore, Chennai, Delhi, Hyderabad, Mumbai, Pune and Tuticorin. It would be extended to all EDI Customs stations by year-end. Benefits are expected to accrue to the trade in terms of faster clearances and reduced transaction costs thereby enhancing the global competitiveness of export goods.