In the world of export-import, each shipment counts. And you cannot afford to make any "uninformed investment". So, if you have any doubt or a question, ask us. Our team of experts at The Dollar Business Intelligence Unit will be happy to answer your queries. Your question(s), if approved, will also be published on www.thedollarbusiness.com, and/or in forthcoming issue of The Dollar Business.
Question (Received on 2017-01-31 12:28:21): Hi We plan to import lubricants from our plant in UAE. What is the procedure for lubricant import? Kindly share details of customs duty, total imports in India and data on exporting countries. Thanks (Ummer, MANAGING PARTNER, VB VENTURES, 9620920XXX, email@example.com) TDB Response: Dear Ummer: We assume you want to import lubrication oil falling under ITC HS Code: 27101980. Lubrication oils falling under the said HS code attract a total import duty of 20.291%. In case our assumption about the intended import product isn’t exact, please write to us. The Dollar Business Intelligence Unit would like to hear from you.
Question (Received on 2017-01-29 15:57:47): I am interested in exporting rice to European countries. How would you help me (Ananth, Sr software engineer, Ggk tech, 8008648XXX, firstname.lastname@example.org) TDB Response: Dear Ananth: We are happy to hear of your decision to head into the world of foreign trade. Well, to start an export-import business, first you need to obtain an Importer-Exporter Code (IEC) from the DGFT. An IEC is a 10-digit number allotted to a person that is mandatory for undertaking any export/import activities. Application for obtaining IEC can be filed online on the DGFT website. DGFT only accepts online applications for IEC issuance or modification and requires only three documents: (i) PAN; (ii) Cancelled cheque bearing entity’s pre-printed name or Bank Certificate; and (iii) Digital Photograph (3X3 cm). All you need to ensure is that details filled in the application should match with details in the uploaded documents. Having said that, an online application for IEC however, can only be made using Digital Signature Certificate (DSC; Class II type). You can type the following URL in your browser – www.thedollarbusiness.com/memberships and subscribe to TDB GROW Programme. From applying for your Importer-Exporter Code (IEC), Digital Signature Certificate (DSC) and assisting you with advanced, actionable, and useful analytics derived from impeccable and priceless research on exports/imports of the product of your choice from The Dollar Business Intelligence Unit, a dedicated team at The Dollar Business will do the hard work for you.
Question (Received on 2017-01-18 23:10:25): Hi, I am about to register an import export company and I primary wish to import apparel, shoes and fashion accessories from the asian countries to start with. I am aware of the process of getting and IEC code and other things. To minimise the risk and to see if things work out, can I buy things in Thailand and get them via air cargo? I understand I would have to pay customs for whatever products attract an import duty. Can this be possible without an IEC. ? Thanks. (Krish, Owner, KC Exports and Imports, 9618616XXX, email@example.com) TDB Response: Dear Krish: No export or import can be made by any person without obtaining an IEC unless specifically exempted. However, there are certain categories of importers and exporters that are exempted from obtaining IEC – this includes ministries and departments of Central or State governments; persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture; persons importing/exporting goods from/to Nepal, Myanmar through Indo-Myanmar border areas and China (through Gunji, Namgaya Shipkila and Nathula ports), provided CIF value of a single consignment does not exceed Rs.25,000. In case of Nathula port, the applicable value ceiling will be Rs.1,00,000. For others, IEC is mandatory.
Question (Received on 2016-12-23 11:32:24): Is CNCA Certification mandatory in entire Africa ??, all African party are asking for it, at present my clients are taking help of one private co in Mumbai against heavy costing of docs, any legal step by step procedure if any one has. Please share your views in detals, Thank You (Kishan, CEO, Barai Overseas, 8128111XXX, firstname.lastname@example.org) TDB Response: Dear Kishan: Most countries in Africa need an Electronic Cargo Loading/Tracking Note/Certificate to clear the cargo. Different names are used by different countries, viz: CTN: Cargo tracking note; CTN No.: Cargo Tracking Note Number; ECTN: Electronic Cargo Tracking Note; BSC: Bordereau de Suivl des Cargaisons; BESC: Bordereau de Cargaison; FERI: Fiche Electronique des Renseignements Importation; COC: Certificate of Conformity; BIC: Bordereau D’Identification des Cargaison; CRN: Cargo Registration Note; SONCAP: Standards Organization of Nigeria Conformity Assessment Programe; CNCA: Conselho Nacional de Carregadores de Angola, among others. A CNCA (Conselho Nacional de Carregadores) certificate is required for shipments to Angola. Angolan law requires that all cargo purchased abroad for import to Angola has a loading certificate. The agency administrating this law is the Angolan National Shipper’s Council also referred to as CNCA. The Loading Certificate number (CNCA certificate) must be shown on all documentation related to the cargo shipped under that Loading certificate. The shipper and/or forwarder should provide the Loading Certificate number to the ocean carrier at the loading port (loading agent) for inclusion in the manifest and Bill of Lading. The Loading Certificate must be obtained by the shipper/forwarder before loading the cargo, and it should be obtained from one of the CNCA agents around the world. No exceptions are made to the requirement of a Loading Certificate. All companies, customers, NGOs, embassies, etc., must obtain a Loading Certificate prior to loading. An applicant who wishes to acquire the certificate has to communicate the following information to the approved agency: (a) B/L copy; (b) Commercial invoice (or a packing list if commercial invoice is not detailed enough); and (c) CNCA Application Form to be filled in each field (please take particular care in the insertion of complete 8-digit HS CODE). As per Angolan authorities, the approved agency in India is Dolphin Chartering, based in Mumbai.
Question (Received on 2016-12-21 15:19:57): Now i am doing textile business only in national level, But i want to take my business to international business platform. Which countries are suitable for doing this textiles business? (arthy, founder, arthy traders, 8608188XXX, email@example.com) TDB Response: Dear Arthy: We would request greater details of the textile product you want to export for us to advice you better. Having said that, let’s assume that you want to export woven fabrics of cotton containing equal to or more than 85% cotton by weight and weighing less than equal to 200 gram/cubic meter falling under HS Code: 5208. Industry data reveals that India is a big exporter of the products falling under the said HS Code. In fact, India ranks 2nd in the world, just behind China, when it comes to exports of the said product and accounts for about 7.14% share in global exports of the product. While India’s biggest export destination for products falling under the said HS Code is Sri Lanka, the country has also been significantly supplying to Bangladesh and United Arab Emirates (UAE) and the exports have been only rising to these countries over the last few years. More of such pure, researched data is available to members of The Dollar Business GROW and CONNECT Programmes. (You can read more on TDB Membership Programme on https://www.thedollarbusiness.com/memberships).
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