Since time immemorial, India has been a hub of trade as well as
commercial activities including export as well as import of various
products ranging from food, spices, clothing, textiles,
electronics, etc. In modern times, India has acquired a significant
position in the international market in terms of the quality of the
products being sold. With a view to keep a track of the number and
nature of export transactions, the Central Board of Indirect Taxes
& Customs (hereinafter referred to as 'CBIC') has
introduced changes to the Shipping Bill vide its circular dated
February 5, 20201
Changes to Shipping Bill
An exporter has to go through various formalities while
exporting goods from one country to another including submitting
applications, obtaining licenses, paying duties, etc. For obtaining
clearance from the Customs Department, an exporter must submit a
document known as the 'shipping bill'. An exporter is not
permitted to export in case the shipping bill has