Question by Mr. Anirudh Vadher as on 18.07.19 –
How many types of taxes are there in Export? How to know what all taxes would be applicable on a particular product? Mr. Dipak Manohar’s reply – I would like to inform you that we are very lucky in exporting. Post 1991, after Economical reform of India, almost 99 percent of the Indian export products became tax- free. There are only 1 percent products that either has tax or are been banned for export. For knowing whether the product is tax- free or taxable, you will have to visit DGFT’s website. Over there you would find download section. They have three different categories namely, free to export, restricted items and prohibited items. There are products for which you need to pay GST but that is refundable at a later stage and at the same time, there are products for which you do not need to pay GST. Restricted items require special permission and details for the same is been mentioned in DGFT’s site. Question by Mr. Gaurav Parekh as on 31.07.19 – What should be the packaging procedure in Export- Import Business? Mr. Dipak Manohar’s reply – In International business there are different types of packages such as carbonated packaging, plastic packaging, bag packaging. Packaging totally depends on the type of product that needs to be exported or imported. Different packaging pattern includes primary packaging and secondary packaging. Primary packaging means the product is been packed in a actual packaging pattern and secondary packaging means that the product is packed twice as per need. Countries have their own set of terms and conditions for packaging and so one needs to follow the same. Packaging also varies from buyer to buyer. Indian institute of packaging is an institute, which has set packaging standards. Talk to your buyer which signing a contract about packaging terms as he is the best source to help you. Ask for details of material of packaging clearly. Question by Mr. Ajay Bhaderi as on 17.07.19 Is it possible to do import- export business without ISO certificate? How important is ISO and TS in exports? Mr. Dipak Manohar’s reply – There is no compulsion rule to have ISO certificate for export. If you have this certificate it would built a good impression. ISO certificate helps to prove that your business is in accordance with the international standards. If you take management system ISO, it would build a trust that your management is in accordance with the standards set by International standard. If you have ISO, it would help you to gain trust of the buyers as compared to normal exporters. There are certain products, which need test certificate so get that done. When you send the details along with the test report, a higher trust level is been gained which helps to do long lasting business. Piece of Advice – ISO certificate is not compulsory but it is advisable to take it for gaining trust of the buyer.
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Question by Mr. Anirudg Vadher as on 18.07.19 –
How many types of taxes are there in Export? How to know what all taxes would be applicable on a particular product? Mr. Dipak Manohar’s reply – I would like to inform you that we are very lucky in exporting. Post 1991, after Economical reform of India, almost 99 percent of the Indian export products became tax- free. There are only 1 percent products that either has tax or are been banned for export. For knowing whether the product is tax- free or taxable, you will have to visit DGFT’s website. Over there you would find download section. They have three different categories namely, free to export, restricted items and prohibited items. There are products for which you need to pay GST but that is refundable at a later stage and at the same time, there are products for which you do not need to pay GST. Restricted items require special permission and details for the same is been mentioned in DGFT’s site. Question by Mr. Ajay Bhaderi as on 17.07.19 Is it possible to do import- export business without ISO certificate? How important is ISO and TS in exports? Mr. Dipak Manohar’s reply – There is no compulsion rule to have ISO certificate for export. If you have this certificate it would built a good impression. ISO certificate helps to prove that your business is in accordance with the international standards. If you take management system ISO, it would build a trust that your management is in accordance with the standards set by International standard. If you have ISO, it would help you to gain trust of the buyers as compared to normal exporters. There are certain products, which need test certificate so get that done. When you send the details along with the test report, a higher trust level is been gained which helps to do long lasting business. Piece of Advice – ISO certificate is not compulsory but it is advisable to take it for gaining trust of the buyer. Question by Mr. Mukesh Kumar as on 06.07.19 – What is Ocean Freight, how to calculate it for your import- export business? Mr. Dipak Manohar’s reply – Ocean freight includes freight from exporting port to that of the importing port. Freight cost would depend upon port to port and supply – demand of the product. There is no THUMRULE to calculate freight expensive. A very helpful website named Kobo port is been started. I would request you to visit that website and inquire the present freight details. You can also talk to your importer about the local details. If you are selling 20 fleeter container then roughly the freight expense would be around 40 k to 45 k excluding local transportation expenses. Question by Mr. Nayan Choubisa as on 15.06.19 – If you are from middle- class family then what it takes to start an export -import business and what things you should take care about? Mr. Dipak Manohar’s reply – If you wish to do business or import- export, you do not need to have money. You can ask for money from your known- people. Out of 10, 9 people would say, I would invest on your behalf and you give me the returns. In case you wish to invest, you can invest between 1.5 lakhs to 5 lakhs. It is the biggest myth that if you do not have money, you cannot do business, all you need is a thought, strong determination to import or export. Question by Mr. Prateek Kumar Gupta as on 18.06.19 – Where can I get, fraud Sri Lankan importer’s list? How can I beware of fraud sellers and buyers? Mr. Dipak Manohar’s reply – Go to Sri Lanka’s Indian Embassy website. The website itself has a detailed list of fraudulent people on it. The website had various DO’s & DONT’s in it for exporting in that country. Refer the same before dealing with any person. There is also a counselor who would help you out in case you need more help. You can also consult our office for the same. |