Importing goods from China to India is getting popular these days. The growing middle class is one of the biggest reasons why India’s import has been increasing from the past few decades.
So Are you planning to import products from China to India? Then, this post is for you. In this post, you will read information about the Legal Requirements for Importing Goods From China to India.
As a trader, you need to be on the right side of the trade regulation to ensure that goods get easily cleared by the customs department. But if you do not want to get into the hassle of documentation and paperwork, then you need to find a company that provides excellent import export services and handle all the paperwork for you.
We have created a list of licenses and permission that a new importer needs to start buying goods from China.
Register Your Organization : Before importing or exporting goods, you need to register your organization as a legal entity in India. This is a legal requirement for anyone interested in buying or selling goods from other global markets to have a valid registration with the Ministry of Corporate Affairs.
Registration with Income Tax Department : Once you register the organization as a legal entity in India. Next, you need to register with the Indian Income Tax Department. As per Indian laws, an importer or exporter needs to sign up under the GST regime. Once a business is registered under the GST, you will receive a TIN to pay taxes while importing or exporting goods.
Import Export Code Registration : Once you register the organization under the GST, you can apply for the import-export code (IE Code) with the DGFT Department. IE code is a ten-digit number issued by the Director-General of Foreign Trade (DGFT).
If you want to start your own import export business and do not know much about the legal requirements, then the above points will surely help you in the process of import and export.