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Showing declared value on 'Bill of Lading' not mandatory, says expert

Rule 3 of the Rules Relating to the Bill of Lading (BL) set out in the Schedule to the Carriage of Goods by Sea Act, 1925, does not mandate that the value of the goods should be mentioned in the bill

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Tamil Nadu

CRISIL Research expects India’s information technology-enabled services (ITeS) exports to contract for the first time in over a decade this fiscal year, shrinking 1-5 per cent year-on-year in constant currency dollar terms to about $36 billion. Exports constitute more than 85 per cent of the industry’s revenue.

And given the Covid-19-induced economic slowdown across the world — especially in the US and EU, which account for about 80 per cent of total export revenue — exports are at risk. The impact of the pandemic on high-value knowledge services, especially ...

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First Published: Mon, June 01 2020. 19:39 IST