IMPORT OF GOODS

[Guest]

CAN I KNOW THE WHAT IS THE PRATICAL PROCEDURE FOR THE IMPORT OF GOODS? WHAT ARE THE TAXES HAVE TO PAY AND WHAT ARE THE DOCUMENTS HAVE TO BE SUBMITTED?

[YAGAY andSUN]

You would have to apply for IEC from DGFT and BIN will be transmitted by default to Customs Department by DGFT. You cannot import any prohibited goods whereas restricted goods can be imported on the basis of consents/authorization/permissions from DGFT and other ministries. Documents are

Invoice, Packing list, CoO, Insurance, Bill of Lading/AWB

AI Summary

Import compliance: obtain IEC, secure consents for restricted goods, and furnish required shipping and customs documents. Applicants must obtain a Import Export Code (IEC) from DGFT, after which BIN data is transmitted to customs; prohibited goods cannot be imported and restricted goods require consents or authorisations from DGFT and other ministries. Customs clearance requires submission of invoice, packing list, certificate of origin, insurance and Bill of Lading/air waybill. The provided reply addresses registration, admissibility and documentary requirements but does not specify tax liabilities.