International Import Services
Transhub International began its journey by supplying Fruits & Vegetables, Paper Bags, Galvanized Fencing, Indian Namkeen Snacks, Groundnuts, and Salt. We have gained the trust of our clientele in no time with the support of a network, a team of experts, logistics, resources and better market reach. Developed within a short span of time, Transhub International has become a one-stop service provider in the industry because of perfect supply chain management.
We import goods from all around the world, whether they are seasonal or not, to assist our customers to expand their businesses and enjoy better services. We are now a major importer and supplier of commodities in India along with our extensive knowledge of the policies and guidelines set forth by the Importer-Exporter Code (IEC) and Agricultural And Processed Food Products Export Development Authority (AEPDEA)for the import of food products and other commodities.
Why Transhub International Import Solutions?
Transhub International India is a significant importer of high-quality goods from all around the world. We import a variety of products including Fruits & Vegetables, Paper Bags, Galvanized Fencing, Indian Namkeen Snacks, Groundnuts and Salt that are popular not just in the country but across the world as well.
Our extensive expertise together with our sharp eye for trends has led us to choose special goods from across the world to assist you in growing your business. We are here to provide you with the highest-quality food products and other commodities from across the world. We can cater to you whether you are a hotelier, restaurateur, corporate, or individual.
Procedure For Importing Products Into India
Importation of goods means bringing something into India from other countries. The Foreign Trade (Development and Regulation) Act of 1992 oversees and governs both imports and exports and gives the federal government the authority to create measures for the growth and regulation of international trade. The Foreign Trade Policy, 2015-20, includes the latest guidelines for importing and exporting goods in India.
Generally, the process for import and export operations includes
- Verifying licenses and legality prior to exporting goods and services,
- Scheduling for transit and storage of goods once goods are unloaded,
- Obtaining customs clearance, and paying any taxes prior to commodities release.
The steps involved in importing goods to India:
- Acquiring IEC (Import-Export Code):
Every importer in India is required to submit an online application to the regional joint Directorate General of Foreign Trade (DGFT) in order to get an IEC number prior to the import. The Import Export Code (IEC) is a permanent account number (PAN) with lifetime validity that is necessary for clearing customs, sending cargo, and transferring or receiving money in foreign currencies. About 10 to 15 days are needed to complete the IEC registration procedure. - Make sure that your imports comply with all applicable trade laws:
After receiving an IEC, you can bring in products as long as they adhere to the Foreign Trade (Development & Regulation) Act (1992), Section 11 of the Customs Act (1962), and the Foreign Trade Policy, 2015–20. Certain commodities, however, that are limited, canalised, or outlawed as proclaimed and certified by the government, require further authorization and permits from the Direction General of Foreign Trade (DGFT) and the federal government. - Obtain Authorization:
To evaluate if a licence is required to import certain industrial goods or services, an applicant must first categorize the goods by specifying the Indian Trading Clarification based on a Harmonized System of Coding or ITC (HS) category. ITC (HS) is India’s primary system of grouping commodities for trading and import-export transactions. The DGFT’s ITC-HS code is an 8-digit alphanumeric number that represents a specific class or type of product and permits the importer to comply with the laws that apply to those items.
A general license or a specialized license may be required to import goods. A general license permits imports from any country, while a specialized or individual license only permits imports from a limited number of nations.
Import licenses are:
- Required for clearance
- renewable
- Generally valid for 2 years for capital goods or for a period of 18 months for raw resources, supplies and replacement parts.
- Formalities to finish the custom clearance and submission of the Bill Of Entry
According to Section 46 of the Customs Act, importers must submit import declarations in the appropriate format, together with bills of entry and business identification numbers (BINs) based on permanent account numbers (PANs), after receiving import permits (1962).
A Bill of Entry provides details on the specific type, precise amount, and value of products that have arrived at the nation or have been admitted inwards.
It is not necessary to file a formal Bill of Entry when the items are cleared using the Electronic Data Interchange (EDI) system because the document is created automatically. To process the entry for customs clearance, the importer must first specify certain criteria and then submit a cargo statement.
Assume the Bill of Entry is sent without the aid of the EDI system. In that situation, the importer must provide relevant evidence such as:
- Origin Certificate
- Inspection Certificate
- Purchase Bill
- Packing List With Trading Invoice
The information provided in the bill of entry is examined and evaluated by customs officers after the products have been transported, and they compare it to the imported goods. The authorities issue a “release order” allowing the imported items to be released from customs if there are no discrepancies.
- Import taxes are determined for the processing of products:
Based on the first schedule of the Customs Act of 1975, India imposes a basic customs duty on imported goods, as well as goods-specific duties including an anti-dumping duty, a safeguarding duty, and a social welfare fee.
Furthermore, under the new GST system, the government imposes an integrated goods and services tax (IGST). The IGST rates are determined by the categorization of imported products as indicated in schedules made public under Section 5 of the IGST Act (2017).
Necessary documents required for the import process:
It is required to submit a set of documents to carry out import activities in India. These include commercial invoices and regulatory documents that deal with various regulatory authorities such as customs, excise, and licensing authorities.
The following legal documents must be used in accordance with the Foreign Trade Policy, 2015-2020 while importing goods.:
- Airway bill
- Purchase invoice for Packing List
- Entry Bill
Other documents
- Origin certificate
- Inspection certificate
- Insurance certificate
- Import licence
- Letter of credit
- General Agreement on Tariff and Trade (GATT)/DGFT Declaration
- Registration Cum Membership Certificate (RCMC)
To establish a secure regimen throughout the COVID-19 epidemic, RCMC assists exporters and importers in obtaining advantages or discounts under the Foreign Trade Policy 2015-20, which was extended until March 31, 2022.