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How can import goods and sale in India
21-Jun-2023 (In Customs & Central Excise Law)
I want to import paper from thailand, and the problem is that, the paper from where i will buy is half the price it is available in indian market. and after adding all the duties and tax it is 3/4 of the price(indian price). so please suggest me the way and if any legal action that can be taken against me by government and any law which i will break unknowingly. and the procedure about all the legal work.
If you are getting the product at a lower cost in foreign country, you can Import the product and sell it in India.
Importers are required to register with the DGFT to obtain an Importer Exporter Code Number (IEC) issued against their Permanent Account Number (PAN), before engaging in EXIM activities. After an IEC has been obtained, the source of items for import must be identified and declared. The Indian Trade Classification – Harmonized System (ITC-HS) allows for the free import of most goods without a special import license. Certain goods that fall under the following categories require special permission or licensing
1. Restricted
2. Canalized
3. Prohibited
Importers are required to register with the DGFT to obtain an Importer Exporter Code Number (IEC) issued against their Permanent Account Number (PAN), before engaging in EXIM activities. After an IEC has been obtained, the source of items for import must be identified and declared. The Indian Trade Classification – Harmonized System (ITC-HS) allows for the free import of most goods without a special import license. Certain goods that fall under the following categories require special permission or licensing
1. Restricted
2. Canalized
3. Prohibited
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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