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

Bangalore: 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 en-sure Bosch Power Tools is GST compliant and ready for supplies to its custom-ers. 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 Group

The Bosch Group is a leading global supplier of technology and services. It employs roughly 389,000 associates worldwide (as of December 31, 2016). According to preliminary figures, 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 En-ergy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its custom-ers connected, cross-domain solutions from a single source. The Bosch Group’s strategic ob-jective 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 450 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers near-ly 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 59,000 associates in research and development.

Additional information is available online at
www.bosch.com
www.iot.bosch.com
www.bosch-press.com
twitter.com/BoschPresse

About Bosch in India

In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solu-tions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Addi-tionally, 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 twelve companies, viz, Bosch Limited, Bosch Chassis Systems India Private Limited, Bosch Rexroth India Private Limited, Robert Bosch Engineering and Business Solutions Private Limited, Bosch Automotive Electronics India Private Limited, Bosch Electrical Drives India Private Lim-ited, BSH Home Appliances Private Limited, ETAS Automotive India Private Limited, Robert Bosch Automotive Steering India Private Limited, Automotive Services and Solutions Private Limited, New Tech Filters India Private Limited and Mivin Engineering Technologies Private Limited. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 18 manufacturing sites, and seven development and application centers. Bosch Group in India employs over 31,000 associates and generated consolidated revenue of about ₨.18,300 crores (1.8 billion euros)* in 2016 of which ₨. 12,950 crores* from third par-ty. The Group in India has close to 18,500 research and development associates.

In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over ₨. 10,500 crores in 2016.