External trade occurs between nations or outside country boundaries. Internal trade happens within country borders or between cities
NCTS enables goods movement between Union customs territory points without changing customs status. System launched in 2004, mandatory for Union and Common Transit in 2005. Phase 5 implementation scheduled for December 2024
Bill of Entry is a legal document filed by importers upon arrival of imported goods. Required for customs clearance and ensures proper tax collection. Issued by importers or customs clearing agents
HSN was created by WCO in 1988 and has undergone five revisions. System classifies over 5000 goods and is used by 150+ nations. More than 95% of global trade is under WCO regulations
Standard describes phytosanitary measures for wood packaging material in international trade. Covers both coniferous and non-coniferous raw wood packaging materials. Aims to prevent pest introduction and spread through wood packaging
Port size is measured in TEUs, calculated by dividing container length by 20. Larger ports use 1000 TEU as annual throughput