Recently we are registered as firm (Partnership firm), i want to buy some products online (from other foreign online sites and import to india) or manufacturer or wholesaler from foreign countries, and the same products sell in amazon india and other indian online sites or wholesale or retail. what are the registrations required for this business ? and is the mandatory to take DGFT licence ? and need to file the custom duty returns ? please explain clearly in detailed.
20 June 2019
You are required to obtain Importer Exporter Code IEC from DGFT without that no import or export in and from India is possible.You should also get registered with GST authority.No any Customs duty return is required but when you import you need to file Bill of Entry with Customs either you can file or you may appoint Custms House Agent CHA to work for you for clearing the Imported cargo.You need to pay Customs duty for clearance of Imported Cargo.
18 October 2019
Thank you so much for your replay sir, i have one more small doubt. Recently, i started new business, that purchase products online from different countries and sale in india (direct to shop, amazon, flipkart, etc., etc.,) but my doubt is, if the payment through direct from my current account is there any problem, in the income tax point of view and RBI point of view, customs point of view and any other point of view. and is there any transaction charges, with this transaction, how to reduce them. is there any other payment mode to reduce the transaction charges...please help me.......
CAclubindia
