I am an international trade, Supply Chain & Logistics Management professional with more than 8 years of in-depth experience in the Industry. I also create youtube videos @Global Vyapar (200K+ Subscribers).
Exim
A Bill of Entry (BOE) is the mandatory legal document filed by importers or their customs agent (CHA) when goods arrive at an Indian Sea Port/ Land Port/ Airport. It serves as the official declaration to customs, it contains detailed information about type, quantity, value, and classification of imported goods.
Taxation & Compliance
IEC stands for Importer-Exporter Code, Before 2017 it used to be a 10-digit unique identification number but after introduction of GST in 2017 the Importer-Exporter Code for firms in India became the same as their PAN (Permanent Account Number), though you still need to apply it via the Directorate General
blog
HSN code is a six-digit international standardized system used to classify and identify internationally traded goods for customs purposes. The acronym stands for "Harmonized System of Nomenclature." In India, it's called the HSN code or ITC-HS code when extended to eight digits. These codes determine your
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Import duty is a tax imposed by the Indian government on goods imported from other countries, including China. It's calculated as a percentage of your goods' value (FOB + freight + insurance) and must be paid before customs releases your shipment. Importing from China to India requires understanding duty