About Export Import Processes
Export Import Processes
Export Process
Apply for PAN card. If Proprietorship, then PAN card of your name. Otherwise of Company's Name.
Register your company with Municipal Corporation, i.e. Gumastadhara(Shop & Establishment Act)-You need to pay ProfessionalTax.
Open Current Account with Bank.
Apply for GSTIN
Apply for Import Export License from DGFT.
Select Product to Import/Export and find out its Product Code (HS Code).
Then study source of Procurement, Local Price, International Price, and Packing, is the Product freely / restricted / prohibited for Export, Government Benefits, International Trade Agreements, etc.This is required to do costing.
Search for potential buyers online and offline.
Write them emailor call them. Give your company details in brief.
Send them samples. Negotiate Payment considering INCOTERMs
Prepare Contract – Advance/Collection/LC Documents
Apply for ECGC & Marine Insurance.
Purchase Material.
Make Arrangement for Custom Clearance and Shipment.
Send documents to Buyer’s Bank through your Bank.
After receipt of payment, claim Government benefits.
Import – Process
Apply for PAN Card
Company registration
Open Bank account
Apply IEC application
Find HS code
Search for supplier
Call samples
Negotiation payment term and incoterm
Apply for import licence if applicable
Make contract
Book forward contract with bank
Inspection of cargo
Marine insurance
Apply for LC if applicable
Follow up with supplier for shipment
Make payment to bank and release documents from Bank
Appoint freight forwarder for clearance of material
Custom duty payment
Submit bill of entry your bank