Articles under How to Import

Export Promotion Council for Services

  Export Promotion Council for Services Services include all the 161 tradable services covered under the General Agreement on Trade in Services (GATS) where payment for such services Is received in free foreign exchange. All provisions of the Foreign Trade Policy 2004-09 shall apply mutatis mutandi to export of services as they apply to goods, unless otherwise specified. Until now, the service exporters are required to register with the Federation of Indian Exporters Organ

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Customs Clearance for Imported Goods

Customs Clearance for Imported Goods Under the Ministry of Finance (Department of Revenue), there are two independent Boards of Revenue: (a) Central Board of Direct Taxes (for income Tax, Wealth Tax etc.) (b) Central Board of Excise and Customs. The Customs administration vests with the Central Board for Excise and Customs, which shapes the policy and decides the customs formalities in the country, in terms of the provisions of the Customs Act 1962. All goods imported in In

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Legal Dimensions of import Procedure

Legal Dimensions of import Procedure   (a) Finalisation of the Terms of Contract: The import contract should be carefully and comprehensively drafted incorporating therein precise terms as well as all relevant conditions of the trade deal. There should not be any ambiguity regarding the exact specifications of the goods and terms of the purchase including import price, mode of payment, type of packaging, port of shipment, delivery schedule, licence and permits, discounts and comm

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Import process

Import process Starting an import business is a goal of more than thousands of merchants and businessman. Like an export business, import business is also very profit business, if an importer proceeds with the right strategies. However, the torn term success and profitability of an import business greatly depends on the importer's knowledge and understanding about the international market arr4 foreign market analysis. Today, importing goods from abroad has become a booming business, e

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Negative List for imports

Negative List for imports The negative list for imports consists of: (a) Freely Importable Items: Import of all items, except those included in the Prohibited List, is permissible free of duty for export production under a Duty Exemption Scheme. Most capital goods fall into this category. Items in this category do not require import licences and may be freely imported by any individual or entity. There are no quantitative restrictions on imports of capital goods and intermediates.

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