Bosch Power Tools India, the first to file Bill of Entry at Indian Customs post GST

Posted by: at 7/04/2017 05:17:00 am


„  Bosch Power Tools India , paid the customs duty in line with the GST procedure at 6:00 AM on July 1 , 2017

New Delhi, 4th July 2017: Bosch Power Tools India, a division of Bosch India Limited, that offers a complete range of power tools for construction, woodworking and metalworking industry, is the first division in India to file the Bill of Entry with the Indian Customs at the Chennai port under the new GST regime. GST was effective at 00:00 Hrs on July 1 , 2017 and Bosch Power Tools division cleared the first custom procedures at 6:00 AM. This was the first custom clearance by the nation.

Bosch Power Tools filed the necessary documents for import on July 1 , 2017 in line with GST requirements. Before arrival of the Electrical power tool components, the company kept ready all the pertaining documents required for import clearance. The major documents includes Bill of Entry besides other specific documents for the components.

Panish PK, Regional Sales Director and Business Head - India and SAARC -Bosch Power Tools said, “Several cross – functional teams across the
organization have been working on a war footing for the past few weeks to ensure Bosch Power Tools is GST compliant and ready for supplies to its customers. We are proud to announce that Bosch Power Tools is ready for offering their services in the new GST era.”

About Power Tools:
The Robert Bosch Power Tools GmbH, a division of the Bosch Group, is one of the world’s leading providers for power tools, power tool accessories and measuring tools. In 2016, its roughly 20,000 associates generated sales of 4.5 billion euros, about 85 percent of which outside of Germany. With brands such as Bosch and Dremel, the division stands for customer focus and great engineering progress. The core success factors are innovative strength and pace of innovation. The division generated about one third of its sales in 2016 with products that have been on the market for less than two years. In 2017, Bosch Power Tools will again launch more than 100 new products onto the German market in its four business segments power tools, accessories, measuring tools and garden tools.

About Bosch in India
In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Additionally, Bosch has in India the largest development center outside Germany, for end to end engineering and technology solutions. The Bosch Group operates in India through nine companies, viz, Bosch Limited, Bosch Chassis Systems India Limited, Bosch Rexroth India Limited, Bosch Engineering and Business Solutions Private Limited, Bosch Automotive Electronics India Private Limited, Bosch Electrical Drives India Private Limited, BSH Home Appliances Private Limited, ETAS Automotive India Private Ltd. and Robert Bosch Automotive Steering India Pvt. Ltd. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 15 manufacturing sites, and seven development and application centers. Bosch Group in India employs over 30,000 associates and generated consolidated revenue of about ₨.17,022 crores in 2015 of which ₨. 12,100 crores from third party. The Group in India has close to 14,000 research and development associates.

In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over ₨. 10,415 crores (1.4 billion euros) in 2015-16. Additional information can be accessed at www.boschindia.com

About Bosch Group
The Bosch Group is a leading global supplier of technology and services. It employs roughly 390,000 associates worldwide (as of December 31, 2016). The company generated sales of 73.1 billion euros in 2016. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 120 locations across the globe, Bosch employs some 59,000 associates in research and development.


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