CA Ashwani Agarwal (Practice) (3049 Points)
19 May 2011I wanted to know all the rules and procedures to be followed to import a machine into india.
the machine is to make pulses.
Is there a need to have an import license?
Are there any other implications in any other law like TDS in income Tax?
Regards
CA Ashwani Agarwal
valji
(Accounts manager-MBA)
(2150 Points)
Replied 19 May 2011
1) you have to fill A1 form with performa invoice with bank for remittance to the bank
party will send invoice copy ,bill of lending with machinery bill which you can give your clearing ageant which clear your machinery
if you want to save import duty you can take EPGC liceance from DGFT
if their is any hire purchase agreement then on installment TDS is applicable otherwise not
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