Pabak Mohanty (PA) (40 Points)
27 May 2011I am planning to import some badminton rackets & badminton bags & badminton strings from China which is more than 5000 USD value.
Is there any statutory requirements or regulations or rules to follow before import.
I mean Import Licence etc.
I shall be thankful for help and guide.
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 27 May 2011
AS PER PROVISION LAID DOWN IN THE FOREIGN TRADE POLICY PARA 2.8 (III) SAYS THAT IF YOU IMPORT OR EXPORT THE GOODS FOR PERSONAL USE / AGRICULTURE PURPOSE EXEMPT FROM IMPORT EXPORT CODE(IEC) OTHERWISE U WILL BE LIABLE FOR PAID THE CUSTOM DUTY .
REGARDS,
Pabak Mohanty
(PA)
(40 Points)
Replied 27 May 2011
Thank you Verma Saab,
No, it is not for personal use. It is for sale. I will pay the Custo Duty.
Do I required any Import Lice for the import of badminton equipments?
abhi
(director)
(71 Points)
Replied 27 May 2011
no ,there is no special licence needed for import of badminton equipment.
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 27 May 2011
MOHANTY JI, ACTUALLY IF WE IMPORT THE GOODS THE VARIOUS CUSTOM DUTY WILL BE PAID BY US , FOR AVOIDING THE DUTIES IMPOSED BY CBEC IN MY OPINION U MUST APPLY FOR THE ADVANCE LICENCE..
REGARDS,
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
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