If i want to import goods from china what procedure i will have to follow and which documents i need to preapre???
CS Vijay Daxini (At Practice) (732 Points)
15 November 2013If i want to import goods from china what procedure i will have to follow and which documents i need to preapre???
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 16 November 2013
Get VAT registration and IE code.
CA Kedar Sakhardande
(Proprietor)
(942 Points)
Replied 19 November 2013
Please be guided :
1) Apply to DGFT for IEC Code
2) Please check the material you are planning to import is not banned (check whether anti dumping duty is levied
3) Try to Import always under Letter of Credit (as chinese suppliers are risky) put third party inspection clause (SGS )
Regards
NOUFAL
(ACCOUNTANT)
(762 Points)
Replied 26 November 2013
If you want to import items from the china. You need following registrations ie.
1- IEC Registraion
2- VAT Registration
3- Collect the details about item, is there is any problem in importing of the goods. is there is any restriction and Anti dumping Duty for that product.
4- Open a bank account for the payment of the party.
5- Find the Better liner to your needed Port. (every liner have different seafrieght amount. and other rates)
6- use the LC for the import, by this you can get the item wihout loading on item rate. (sometimes customs load the importing product rate)
7- Understand the product HS Code and its impact in Vat and customs. Use proper HS code. other wise, we will pay more
8- Study about Port. (liner's Do charge is different in different location)(some type of charges can avoide by proper port.
9- Find the good CHA in that port.
10- Track the container about its arrival.
11- Take the container before its free days end.
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