Import...???

Question

Hello everyone,

I wish to import some prodcuts in wholesale from China and USA.

What are the tax issues ans import duties...??

Do I need to have import licence...???

How can I obtain import licence...???

Mention any other problem that I have to face for importing.

Give solutions to my queries soon...

Thanks everyone...

Answer 1

There are many problem while importing, But tell me a business without problems......So all problems have solutions.....



You need to have IEC registration....with DGFT (Director General of Foreign Trade) Log on to http://dgft.delhi.nic.in for more details...



Most of items are under OGL, need Import Licence for few, so consult a good Clearing Agent (who shall get the shipment cleared from Customs)



For Import Duties Log on to http://www.cbec.gov.in/cae/customs/cs-tariff/cus-tariff-2005/cst_schedule_1.htm but the maximum duty is around 36% (Nett - Basic Customs Duty + Spl + CESS)



You can importfrom anywhere in world, but while importing from China be careful....

Answer 2

Most of the items are now allowed to be imported freely, that is without import licence. There are very few items that require import licence. The exact policy clarification is available with the DGFT.



The taxes: The import duty is announced every year by the Customs and is payable at that rate. The income tax and other taxes are applicable, since the income generated from such trade will be your business income.



You need to obtain the IEC code number. This IEC number is required even for applying for import licence wherever required.



This code number is vaild for your firm (or proprietorship) for all your import export transactions from any port in India. The process of obtaining IEC code is simple, only you have to apply in the prescribed format along with the fees to the nearest office of JDGFT.

Answer 3

Some items can be imported under Open General Licence (OGL)policy. However, you will be required to pay customs and octroi duty on all the items. It also depends on whether you want to import for resale in India. Please get expert advise before you import anything. Import of some items like drugs (brown sugar, etc.). fire arms are banned.

Answer 4

Hi, I'm Vicky from shenzhen, china where the international biggest electronics trade concentration.



I'm now be a sales manager in IBEN industrial co,. Ltd, (www.ibenelectronics.com)which is professionally producing and trading Tablet PC, Bluetooth products and accessories of phones.



What's more, I'd like to be your purchasing agent in china very much, I have serviced and helped the friends from USA/UK/Honduras/Italy/Turkey with their import business. up to now, we are keeping good friendship.



The most in my mind are the trust and honest for friend and business, so whatever the importers or china suppliers can trust each other and make the trade safe.

Please contact me by mail at [e-mail]

Answer 5

No lic. , just cash. never pay until you get the product. as far cost goes, ask the seller to include that in price, then negotiate total container cost. They can handle the politics better than you. main thing is to cover your a**. They are mostly all looking to screw you, but if your aggressive you can make big dividends.

good luck

Answer 6

Have a look this article.

It can help you find wholesale directory.

http://ezinearticles.com/?Starting-A-Home-Business-With-A-Wholesale-Product-Directory&id=448178