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?

AI Summary

Learn How to Import Goods: Get IEC, Understand Taxes & Documentation, Avoid Prohibited Items, Secure Permissions for Restricted Goods. An individual inquired about the practical procedure for importing goods, including necessary taxes and documentation. In response, it was advised to apply for an Importer Exporter Code (IEC) from the Directorate General of Foreign Trade (DGFT). The Business Identification Number (BIN) will be automatically sent to the Customs Department. Importation of prohibited goods is not allowed, while restricted goods require permissions from DGFT and relevant ministries. Required documents include the invoice, packing list, certificate of origin, insurance, and bill of lading or airway bill.