Question

difference between bill of lading and bill of entry?

Answer 1

Bill of Lading is document prepared by Liner Party ( Shipping Line) for the purpose of the Shipment of the items. It shows the Consigner and Consignee and their Address, Port of Loading and Unloarding, Item Name, Quantity, Weight, CBM, Frieght Details (sometimes) and Details of Contianer No and seal and Voyege in Vessal. By the Bill of Lading Number we can Track the contianer or our Shipment.

But The Bill of Entry is a document prepared by the customs Department showing the items are billed or imported and its classification are done for the purpose of Duty assessement. The bill of entry prepared on the basis of Bill of Lading, Commercial Invoice, Packing List, IEC code, IGM, Vat registration Certificate, and Pan Card etc.. The bill of Entry is prepared by on the basis of importer or CHA declaration regarding the shipped or importing goods.

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Answer 2

The Bill of Entry is used to clear the imported goods from the customs, while the Bill of Landing is used to prove the ownership of the goods.

Explanation:

Differences between Bill of Landing and Bill of Entry are as following:

• Bill of Landing is used at the time of export transaction, while Bill of Entry is used at the time of import transaction.
• Bill of landing is a document issued by the company, while bill of entry is issued by the customs office and filled by the importers.
• Bill of landing helps in identifying the goods, while bill of entry helps in identifying right classification of goods and their valuation.
• Bill of landing is a negotiable document that can be used as a legal proof, while bill of entry is a statutory document registered by the custom clearance importers.

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