I (Meaning and importance of Exports) Unit Structure

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GR Form to his bank. After the proceeds are realized, the bank 
sends the duplicate copy of GR to RBI. 
13.9 
 DISTINGUISH 
BETWEEN 
COMMERCIAL 
INVOICE AND CONSULAR INVOICE 
Commercial Invoice 
Consular Invoice 
1) Meaning 
– 
Commercial invoice is the 
statement of account of sale 
rendered by the seller to the 
buyer and it is prepared by 
seller on his letter head. It is 
nothing but exporter bill for 
shipment of goods. 
Consular 
invoice 
is 
a 
certificate issued by the Trade 
consulate of the importer‟s 
country 
stationed 
in 
the 
exporter‟s country stating that 
goods of particular value are 
imported from a particular 
country by particular importer. 
2) Purpose 
– 
Its basic purpose is to inform 
details of goods supplied and 
the 
amount 
payable 
by 
importer to exporter. 
Its basic purpose is prompt 
clearance through customs at 
the port of destination. 
3) Status 
– 
It is a fundamental document 
and 
it 
is 
rightly 
called 
„horoscope‟ of export trade 
transaction. 
It 
provides 
information 
required 
for 
preparing 
other 
export 
documents. 
It is a secondary document. 
The 
preparation 
of 
this 
document 
depends 
upon 
requirement of buyer. It is 
needed only when duty is 
being charged on the basis of 
value of goods. 
4) Fee 
– 
Seller does not charge fee for 
preparing this document. 
Consul of the concerned 
country charges nominal fee 
for preparing this document. 
5) Contents 
– 
It contains the terms and 
conditions of sale as well as