procedure for importing of Machinery

This query is : Resolved

CS ,CMA Shambhu Kr. jha (Querist)
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01 July 2011 Dear All
Please let me know the procedure for importing a machinery from Foreign Countries
As far as i know it go through following procedure
1. Placing order after phonic or mail- exchange or by any other mode
2. Remitting of payment through our banker
by enclosing following documents
a) From-a1
B) Advice to bank
c) Per forma invoice

3. After receiving the goods , taking credit on the basis of Bill of entry and sending
4. Sending detail to our banker with exchange copy for getting their sign thereon .

Further if there are any other procedure involve please let me know .

Thanks

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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01 July 2011 sir,

An exporter / importer can import export after getting the IEC code and execute export sales contract.

after it , in my opinion get the advance licensee so that none custom duty imposed in respect of export obligation must fulfilled by exporter.

they send a proforma invoice to the buyer and then open the letter of credit by the buyer in favor of seller.

in EEFC account consignee send the payment through their banker either LETTER of credit or advance.

more information :-

http://cenexcisenagpur.nic.in/Excise/pro_export.htm

http://www.nfpl.net/pdf/procedure%20for%20import%20and%20export.pdf

sir, if you have any query about export tell us eminent experts will assist you.