Exporting is a tough yet very rewarding journey in the export arena. Venturing into the export market without knowledge of what goes on in the system of the Export Data Processing and Monitoring System (EDPMS) can be frustrating to any exporter. The RBI devised an online platform to ease out
Exim
Exporters see entry into the international market as a viable chance for profit, but entry into this market is more or less associated with its own set of challenges. One of the most crucial aspects of this process is the presentation of a well-structured export quotation to potential international buyers.
If you’ve ever made an international bank transfer, you’ve probably been asked for your IBAN number. This often leads to the question: Is IBAN the same as an account number? The short answer is no—while an account number is part of your IBAN, the two are not
Banking & Payments
When it comes to dealing with international trade, one of the most important steps that a business can organize involves generation of a commercial invoice of exportation. It is not that simple bill, it is the most significant document ever to the custom house of the importing nation. An effectively
Banking & Payments
What is an IFSC Code? The IFSC code (Indian Financial System Code) is a unique 11-digit alphanumeric code assigned by the Reserve Bank of India (RBI) to every bank branch in India. It's a crucial identifier for electronic fund transfers like NEFT (National Electronic Funds Transfer), RTGS (Real-Time
The world of international trade is a complex one that necessitates the involvement of a precise documentation of every transaction, every shipment and every payment in such a complex world the international trade. To the Indian exporters, it is not only a correct business practice to ensure that foreign exchange
Taxation & Compliance
An Importer-Exporter Code (IEC Code) is your vital ticket to international trade out of India. When acquired, this 10 digit special identification number will enable businesses to import and export goods and services, enjoy government benefits and access customs without any hitches. Nevertheless, it is not enough to get an
Export-import payments can be very highly lucrative; then again, they also have drawbacks. As the business goes international, it faces several barriers that make the flow of transactions a challenge for it. From there, the current article seeks to go deeper and explain other problems affecting export-import payments and how
Business transactions are now so fast that the selection of a suitable B2B payment platform can help to smooth transactions and cash flow. There are now so many options presented that it is hard to decide which best meets the needs of the business. This article gives an overview of
In the business world today, everyone is a competitor, and everyone wants a piece of the big market slice. However, this can be replaced by the idea that many companies can improve one specific area—payment procedures. This will show you how a solid B2B payments platform can change your
The import business is perhaps one of the rewarding ventures any entrepreneur may wish to undertake with the aim of extending their market dominion as well as widening their range of products. Otherwise, through the importation of products, businesses are able to acquire distinct merchandise, cut costs and, therefore, boost
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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