I'm working as an accounts manager in one of the construction co. We are importing tiles from China for the project. Could you please let me know the requirements to import the materials and tax implications on the same.
01. Does Co. need to have IE Code? 02. Does Entry tax applicable once the goods reach India? 03. Does Co. need to pay any other tax i,e, VAT etc.,?
*Co. is registered under COT (Composition Tax) scheme.