Requirements to import a machine

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I 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

Replies (1)

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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