A bill of entry is a legally binding document filed on or before imported goods arrive by consignees or custom clearance agents.
The document is submitted as a part of the customs clearance procedure to the customs department. This submission allows the consignee to claim ITC on the concerned goods. Typically, the bill is issued either for bond clearance or home consumption.
On filing the bill of entry, an authorised customs officer examines the goods. Following which the consignee can clear the goods by paying the basic customs duty, IGST, and GST compensation cess.