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anand das (service)     23 September 2009

export import laws

Dear friends,

hello -

i have query regarding my friends company which wants to enter in import/export bussiness of agricultural products.

 

*what are laws related to export and import of food products?

 *what r authorities involved in these?

*any foreign exchange law or authority involved in this?

waiting for reply from you.

anand

 

 



Learning

 4 Replies

MUKESH DAGAR (m.com,mba (finance) )     23 September 2009

dear sir

1 first you have to get IEC (director general of foreign trade) code from DGFT .

2.you have to adop the provision of FEMA mean and rule of RBI.

3 You have to take the limite for Pre -shipment ,Post shipment., bill disocuting, bill collection.

4.you have to use form A1 and A2 for foreign remmitance outward.

5. if you are paying any remittance for 195 section you have get permision for income tax department and Ca certificate.

if i am wrong please tell me my mistake.

anand das (service)     26 September 2009

thank you mr mukesh.  i understood your first and second points. however i did not understand your third to fifth poinths . could you elaborate on those?

what about APEDA (Agricultural and processed food products Export Developememnt Authhority) ? i have recntly heard that we may have to register for this also. Is it true?

thank you very much.

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     26 September 2009

Agreed with Mukesh.

ROHIT.SHAH.HYD (M.P)     29 September 2009

 I Got IEC Code on my firm name some of my friends told me that after importing the goods we have to provide the some documents To RBI.

My Doubts is : 

1) What Document we have to Submit ?

2) Where we have to submit the documents ?

3) What Documents we have to provide to our own bank from where we are doing the remittence?

4) What is TDS  and how to calculate it on the Proforma Invoice ?


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