An export invoice template for CIF (Cost, Insurance, and Freight) shipments where the seller covers goods cost, ocean freight, and marine insurance to the destination port.
CIF (Cost, Insurance, and Freight) is a widely used Incoterm for Indian exports, especially when the seller wants to offer an all-inclusive price to the destination port. Under CIF terms, the seller bears the cost of goods, ocean freight to the destination port, and marine insurance covering at least 110% of the CIF value (as per Institute Cargo Clauses). This template provides a clear breakdown structure essential for CIF exports: the FOB value (cost of goods at the port of loading), freight charges (ocean freight to the destination), insurance premium (marine transit insurance), and the total CIF value. Indian customs uses the FOB value for export assessment and duty drawback calculation, even when the commercial terms are CIF. However, the buyer payment is based on the full CIF value. The template captures both values distinctly: the FOB value for customs declaration and the CIF value for the commercial transaction. The freight breakdown is detailed, covering ocean freight per container or per CBM/weight for LCL, terminal handling charges at origin, bill of lading fees, and any fuel surcharges. The insurance section shows the sum insured (CIF value + 10%), the premium rate, and the policy/certificate number. For multi-port shipments or transshipment routes, the template includes a routing field showing the vessel route with transshipment ports. The template also handles the common scenario where the exporter arranges freight and insurance through their clearing and forwarding agent, with fields for CHA name and reference.
Indian exporters who sell on CIF terms, commodity traders providing door-to-port pricing, manufacturers who arrange freight and insurance for buyers, export houses and trading companies, agricultural commodity exporters, and businesses where the buyer prefers an all-inclusive landed cost at their nearest port.
Step 1: Enter exporter details with GSTIN, IEC, and AD code. Step 2: Enter buyer details with destination port and country. Step 3: For each item, enter the FOB unit price. Step 4: Add ocean freight charges - either per container (FCL) or per CBM/weight ton (LCL). Step 5: Add marine insurance: sum insured (typically CIF + 10%), premium rate, and policy number. Step 6: The template calculates Total CIF = FOB Value + Freight + Insurance. Step 7: Enter vessel name, voyage number, and routing (with transshipment ports if any). Step 8: Add the bill of lading number once issued. Step 9: Enter CHA/forwarder details if applicable. Step 10: Add the LUT reference for zero-rated export.
Under CIF terms (Incoterms 2020), the seller pays for freight and insurance but risk transfers to the buyer once goods are loaded on the vessel at the port of loading (same as FOB for risk). For Indian customs, the FOB value is the assessable value for export duty and drawback, even for CIF contracts. The invoice must separately show FOB value, freight, and insurance. Marine insurance under CIF must cover at least 110% of the CIF value under Institute Cargo Clauses (C) or better. The exporter must provide the insurance certificate/policy to the buyer. For GST reporting in GSTR-1, report the FOB value in INR.
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