Import export

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2012 dear sir,
we are an export house, we need URGENT help on the following matter.
1) We are importing product from Pakistan to Iraq, but we want the billing to be done from india.
2) We are receiving L/C against Sight from Dubai for India, and we need to transfer that to Pakistan to purchase the product.
3) What would be the procedure and charges involved here, the product is not coming to india, it would be shipped directly, but we want to bill it and not show the end buyer the actual purchase price.

Please reply urgently.
Also, mail your contact details, so we will call and discuss with you.
Regards
Gondwana Group of Companies
India

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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02 April 2012 refer to:

The South Asian Free Trade Area or SAFTA is a pact signed in 6 January 2004 that would gradually eliminate most tariffs and other trade barriers on products and services passing between Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Afghanistan and Sri Lanka. The pact would effectively create a free-trade bloc among the eight countries of South Asia.

for more info:

http://www.saarc-sec.org/userfiles/saftaagreement.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2012 Dear Mr. Verma,
Thanks for your reply on my Query, but i havent got a clear idea after reading the SAFTA agreement, how to execute the procedure, i issue my bill (Party B) to the end buyer (Party C), i get Bill from seller (Party A), can i issue a bill to Party C for the product thats physically not going to land in India, what would be the tax implication, what kind of L/C i need to take from Party C, so that i would be able to make payment to Party A.
Awaiting your reply.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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02 April 2012 it is not possible as per Foreign Trade Policy2009-2014.

regards

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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02 April 2012 it is not possible as per Foreign Trade Policy2009-2014.

regards

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2012 ok, thanks for your help, in that case can an indian establish a trading firm in pakistan.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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02 April 2012 IN THIS CASE it depands on WHAT Foreign Trade Policy SAY PAKISTAN.

REGARDS,