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STARTING IMPORTING BUSINESS

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 July 2011 STARTING IMPORTING BUSINESS
i know import duty of memory card is free but iam importing in bulks for trading in india please tell me what i need
and if suppose i want to operate business from home then i dont have office so can i trade without office and without IEC code
lastly if i want to apply IEC then i need to have registerd company and iec code cant be given for a individual right pleade guide me
i hope best answers and for tablet pc is there any custom
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Vivek Mehta (CA, DISA,CS, MBA)

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Vivek Mehta (CA, DISA,CS, MBA) (Expert)
10 July 2011 For Importing things on bluk you need to have a IEC registration whether you run business from office or home...and no such requirement that you need to do business in company form only...you can do in partnership or proprietorship also and can take the IEC code..
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
11 July 2011 as per para 2.8(iii) of foreign trade policy 2009-2014, a person [exporter / importer] are exempt from IEC who are import / export for personal use / agriculture purpose.

otherwise impose the duty as per applicable by custom tariff.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
11 July 2011 Both the experts are right but you get the IEC code for the imports as huge imports cannot be for personal use.
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