In India, before starting an import business, you need to fulfill some government formalities. Document’s formalities depend on the goods which you want to import. In this article, we have mentioned the government formalities you need to fulfill. Portlogy provide free consultation for the whole process of starting import business. For more detail, you can fill contact form.
Importer Exporter Code (IEC) Registration: This is the first government formality for starting import business. You need to get an IE Code. It is a 10 digit code which is issued by Directorate General of Foreign Trade (DGFT). You can apply online for IE Code at dgft.gov.in.
There are following documents required for IE(Importer Exporter) Code:
- Bank certificate regarding IEC Number.
- D.D. of Rs. 250 in favour of zonal Directorate General of Foreign Trade.
- Birth certificate copy.
- PAN Card Copy.
FSSAI licence: If you want to import food items then FSSAI licence and NOC is mandatory at the time of clearance import food item. FSSAI licence is issued by food safety and standards authority of India. For more detail about food licence, visit FSSAI website: http://foodlicensing.fssai.gov.in/
Finding Supplier:- Finding supplier in international market is a major task. Without supplier, an import business can’t survive for a long time. You can find supplier on alibaba (http://www.alibaba.com/) and many more websites. We maintain list of trusted and verified supplier in China, USA and Dubai. Contact us for more details.
We will help you to find source at competitive price for your product which you want to import.
Payments transaction: In international trade, use a secure and safe way of payments. Letter of credit (LC) is a secure transaction for both buyer and seller. In LC, both importer and exporter banks are involved. In this, the buyer requests his bank (importer) to issue the letter of credit. After issuing credit, the seller bank guarantees that seller will receive the payment for his goods.
There are following documents required to import custom clearance:
- Commercial invoice cum packing list: Commercial invoice is a main document for custom clearance. It is made by manufacturers or sellers. In this, all details of packing of goods give the cost value is given in commercial invoice.
- Bill of lading / airway bill: Bill of lading is used when shipment is under sea or airway bill is used. It is issued by goods Carrier Company. It is mandatory for import custom clearance.
- Bill of entry: Bill of entry is a legal document which is filed by Custom House Agent (CHA). It must be filed within 30 days when your goods arrive at custom location. After filing bill of entry and custom clearance documents, custom officers inspection on the goods and if goods is according to standard then the goods are deliver to the buyer.
To know how portlogy can help you starting an import , you can also fill contact us form or call at our number.