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After successful implementation of GST in July 2017, the Central Board of Indirect Taxes and Customs (CBIC) is rolling out systems that improve the way the business is conducted. It is continuously trying to bring simplicity, accountability, consistency, and transparency in the process of clearance of all import and export transactions. As a part of improvisation procedures, the CBIC has introduced SWIFT.
SWIFT is Single Window Interface for Facilitating Trade. It is a transformative approach adopted by the CBIC to facilitate the ease of doing business. The word ‘Single Window’ plays a very vital role in improving the efficiency of import and export procedures. It will allow the importers and exporters to file their clearing documents online at a single window. Also, permissions from various regulatory authorities can be obtained online. This reduces the physical interaction with the government authorities. Thus, it saves time and cost of doing business.
SWIFT was introduced with an aim to reduce interface with different government bodies, thereby reducing time and cost. e-SANCHIT was launched under SWIFT to introduce paperless processing. e-SANCHIT is an integral part of SWIFT. e-SANCHIT means e-storage and computerised handling of indirect tax documents. It allows the trader to upload all supporting documents digitally for obtaining clearances. This eliminates the need for the trader to approach PGAs (Participating Government Agencies) for obtaining various clearances. Thus, e-SANCHIT makes the entire consignment clearance process paperless and faceless.
|Who can use it?||SWIFT||e-SANCHIT|
|Importers||All importers registered under the ICEGATE portal can use SWIFT.||All importers registered under the ICEGATE portal can use e-SANCHIT.|
|Exporters||Presently, this facility is not available for exporters.||All exporters registered under the ICEGATE portal can use e-SANCHIT for document upload.|
|PGAs||All PGAs can use SWIFT.||All PGAs can use e-SANCHIT for uploading of LPCOs. (Licences/Permits/Certificates/Other Authorisations)|