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Jithin scaria (Practicing Company Secretary) (112 Points)

23 June 2016

Dears

If a person wants to export goods which all acts he have to comply with?

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8 Replies

mohammad rasool baig (Management Consultant) (1026 Points)
Replied 23 June 2016

Basically, minimum statutory acts which we need to comply with when we are exporting goods outside India are

1. Customs Act

2. RBI Act

3. Export procedures (if any) - as per state sales tax

4. others

Jose Clemmons (2 Points)
Replied 04 July 2016

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Replied 22 December 2016

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Pardeep (ACCOUNTANT) (11 Points)
Replied 28 December 2016

Hi, we are exporter of Rice and in this trade buyer demands some gift in each consumer packing of rice. One Spoon is to be exporter with rice as free gift. Can anyone please advise the limit of free gift decided by the Govt. of India.

Devayani Kaur (Model) (24 Points)
Replied 08 May 2018

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Replied 08 May 2018

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CS M Pota (Company Secreatary) (3180 Points)
Replied 08 May 2018

Dear Pradeep,

There is no such limit but you need to take Waiver letter from the AD Bank inrespect of the SPOON which you give as Free gift and export and for that no export realisation will be received in India.

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CS M Pota (Company Secreatary) (3180 Points)
Replied 23 May 2018

Main to comply is Foregn Trade Policy (FTP).Any importer and Exporter must have Importer Exporter Code number (IEC number).Without IEC no export and import is possible in India.Further goods freely Exportable and Importable as per the FTP Policy can be Impoered and Exported freely else either can not be exported or imported or exported or Imported as per the provision of FTP.Not only that as per the current FTP IEC is issued Permanent Account Number based (PAN) so Income Tax Act should comply by having PAN.