Import business

This query is : Resolved

Dinesh Salaria (Querist)
Follow

29 March 2011 Sir
I would like to start importing of cosmetic goods from thailand Korea and china. could you please advise me how to proceed for this business and what kind of documents required for same.
How can i sell these items in indian market and what would be the taxation policy for the same. and is that mandatury to tag mrp on these products if it is not for retail sale and only for institutional sale.
thanks
Dinesh Salaria

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

29 March 2011 DEAR AUTHOR,

AS PER PROVISION LAID DOWN IN THE HAND BOOK OF PROCEDURES VOL-1 CHAPTER 2 OF PARA 2.8(III) THE PERSON ARE EXEMPT FROM IEC , THEY ARE IMPORTING OF EXPORTING FOR PERSONAL USE / AGRICULTURE USE.

FOR MORE INFO IMPORT :-

http://www.indiandata.com/import_procedures.html

Message likes : 1 times

Dinesh Salaria

Dinesh Salaria (Querist)
Follow

29 March 2011 Thanks Mr. Ramesh
Thanks for your response!but if you can further Explain about:- What will be the Implications Tax/Vat or custom wise if we are importing and selling into the services industry like Salons, Spas and wellness industry. What about the MRP for the things as it was not printed on these Items. Weather these Items can be sold into indian market also it will be imported through delhi Via Direct or through Courier but distributed to different parts of the country.
thanks

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

30 March 2011 it will be best if you import / exoport through IEC and get registered as a service provider otherwise you will imposed a peak tax.

Message likes : 1 times

Dinesh Salaria

Dinesh Salaria (Querist)
Follow

31 March 2011 Thanks Mr. Ramesh
thanks for your response once again!!
I actually got a valid point from you that instead of going direct as an importer I get register as a service provider what will help me to save tax and improve my margins. Do you have any contacts in mohali/Chandigarh who you can refer so that i can consult with them and got my vat registration and IEC licence applied.Also if you could please shed some light on MRp for the Imported goods.
thanks and best regards
Dinesh Salaria

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

31 March 2011 thanks for put up your query in ca club india.

regards,

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now