India में Import कैसे करे? Step By Step Process Explained | iiiEM

Summary

This video script provides a comprehensive guide on how to import products into India. It starts with the basics of business registration, obtaining GST numbers, and setting up a current account. The script then delves into obtaining an Import Export Code from DGFT and understanding HS codes for products. It highlights the importance of market research, supplier verification, and compliance with Indian standards and norms. The process continues with customs clearance, payment terms, and supplier verification, emphasizing the need for quality and adherence to norms. The video aims to educate viewers on the entire import cycle in India, including the importance of GST and the role of the Export Promotion Council.

Takeaways

• 😀 The video is a tutorial on how to import goods into India.
• 📝 It emphasizes the importance of following the correct steps for importing.
• 🏢 The process begins with business registration and obtaining a GST number.
• 👉 It suggests consulting with a chartered accountant for company registration.
• 💼 Opening a current account in any preferred bank is a necessary step.
• 🌐 The video mentions visiting the DGFT website for obtaining an Import Export Code.
• 🔍 It highlights the need to identify the correct HS code for the product being imported.
• 📦 Discusses the importance of market research and finalizing suppliers.
• 📋 The script covers the need for testing the product and obtaining test reports and quality certificates.
• 💡 Advises on checking import duties and GST on the product from the source country to India.
• 🔑 Recommends verifying suppliers through multinational companies and obtaining an inspection report.
• 🚢 Talks about the container arrival in India and the process of customs clearance.
• 🚫 Cautions against making full payments upfront and recommends using an escrow service.
• 📈 Ends with a reminder to not forget quality norms and the importance of GST registration.

Q & A

What is the primary focus of the video?

The video focuses on how to import goods into India, including the necessary steps and regulations to follow.

What initial steps must be taken before starting the import process?

The initial steps include registering a business or company, obtaining a GST number, and opening a current account in a nationalized or private bank.

What is the purpose of obtaining an Import Export Code (IEC)?

The Import Export Code (IEC) is necessary for anyone looking to import or export goods from India. It is issued by the Directorate General of Foreign Trade (DGFT).

How can one find out the HS Code for their product?

The HS Code for a product can be obtained online and is essential for identifying the product category and applicable import duties.

What should be done after identifying the HS Code and country of origin for the product?

After identifying the HS Code and country of origin, the importer should check the applicable import duty and IGST on the DGFT or commerce ministry's website.

What is the role of a supplier in the import process?

The supplier provides product samples and quotations. The importer should verify the supplier’s credentials and ensure they meet the quality norms and standards.

How can one verify the legitimacy of a supplier?

A supplier can be verified through various multinational verification companies like Dun & Bradstreet, which provide reports on the supplier’s authenticity.

What steps are involved in the final stages of importing goods?

In the final stages, the imported goods are inspected for quality and quantity, customs duties and IGST are paid, and the goods are transported to the importer’s location.

Why is it important to follow Bureau of Indian Standards (BIS) norms?

Following BIS norms ensures that the imported products meet Indian quality standards and are safe for use or consumption.

What is a recommended approach to making payments to suppliers?

It is recommended not to pay 100% of the amount in advance. Instead, negotiate a payment structure that ensures the supplier's accountability.