Export Import Processes

1. Apply for PAN card. If Proprietorship, then PAN card of your name. Otherwise of Company's Name.

2. Register your company with Municipal Corporation, i.e. Gumastadhara(Shop & Establishment Act)-You need to pay ProfessionalTax.

3. Open Current Account with Bank.

4. Apply for GSTIN

5. Apply for Import Export License from DGFT.

6. Select Product to Import/Export and find out its Product Code (HS Code).

7. Then study source of Procurement, Local Price, International Price, and Packing, is the Product freely / restricted / prohibited for Export, Government Benefits, International Trade Agreements, etc.This is required to do costing.

8. Search for potential buyers online and offline.

9. Write them emailor call them. Give your company details in brief.

10. Send them samples. Negotiate Payment considering INCOTERMs

11. Prepare Contract – Advance/Collection/LC Documents

12. Apply for ECGC & Marine Insurance.

13. Purchase Material.

14. Make Arrangement for Custom Clearance and Shipment.

15. Send documents to Buyer’s Bank through your Bank.

16. After receipt of payment, claim Government benefits.

Import - Process

1. Apply for PAN Card

2. Company registration

3. Open Bank account

4. Apply IEC application

5. Find HS code

6. Check if product is compatible and profitable in local market

7. Search for supplier

8. Call samples

9. Negotiation payment term and incoterm

10. Apply for import licence if applicable

11. Make contract

12. Book forward contract with bank

13. Inspection of cargo

14. Marine insurance

15. Apply for LC if applicable

16. Follow up with supplier for shipment

17. Make payment to bank and release documents from Bank

18. Appoint freight forwarder for clearance of material

19. Custom duty payment

20. Submit bill of entry your bank