Role of custom import data in International trade

Custom duties and taxes are a major source of revenue for the Central Board of Excise and Customs department. They also form a major cost of import and export business. Customs rule require every importer to pay a certain percentage of the value of imported goods as import duty to the government. Custom import data provides detailed information as to the material imported, name of importer, volume of import, import duty paid, etc
for a particular period, etc. With this data it is possible to track the customs duty collections, the amount paid y each importer, etc. This data is of great benefit to other traders who based on the information can chart future plan for business transactions. Since the data provided is true and authentic, traders can rely on them with faith without having the worry of being misled or cheated.

Custom import data is a summary of all imports into a country. It provides various information such as nature of imports, materials imported, volume of imports, name of importer, etc. Based on this data international traders can enter into more future contracts that will benefit both the parties on a large scale.