December 19, 2017
Carnet Bond Amount Increases
In light of higher duties, taxes, and fees assessed on imported goods, the ATA Carnet bond amount has increased for India. Effective December 1st, the security requirement for ATA Carnet shipments to India has increased to 55%. Previously, it was 40% of the general list value. If additional sets are necessary, a revised bond with the new bond amount is required. Similarly, if India was not originally listed on the Carnet, a revised bond with the new amount is also needed.
Carnets streamline the customs process for goods that are temporarily imported into a country by allowing entries without the need to pay duties and taxes. This one document can be used in over 70 countries and is valid for one year. Most types of goods can be covered by a carnet, including commercial samples, professional equipment, and exhibition displays. Extraordinary items, such as World Cup yachts and Van Gogh’s self-portrait, can also use a carnet. Learn more about this beneficial bond at https://www.avalonrisk.com/carnet.html.