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The E-commerce industry of India has been on the rise for quite a few years. The industry is booming rapidly. On the other hand, the manufacturing sector of China has been doing very well too. Thus, importing goods from China to India is a very good option for businesses. However, since importing is a very long and potentially complicated process, certain regulations need to be followed. Here we will discuss some of them to give you an idea of the process, regulations, and products you’d want to import from China to India.
Your first Import procedure from china to India step is to deal with the regulations that would allow you to begin importing. Such regulations include licenses or permissions you’d need to start.
The very first step; legal entity status for your company. Get your company registered with The Ministry Of Corporate Affairs. It is very important for businesses dealing with imports and exports that their registration status is always valid.
If your company is registered as any one of these, it can import or export goods.
If you need any assistance regarding the registration process, our team supplyia would be delighted to assist you.
The second step is to get your business’s registration done with the Income Tax Department of India. This will help you file your annual taxes and returns. It is the law in India that you need to apply for GST registration to sign-up for its GST regime. This registration will provide you with a TIN used to pay your tax on goods imported or exported by you. You might even be required to pay some security deposit by certain states to ensure that your business will operate as stated.
Our team VakilSearch is always ready to assist you if you face any problems with your tax registration.
When your GST regulation is received, you are allowed to apply for a license at the Directorate General of Foreign Trade Department to import and export goods. The license will be received as an IEC code. You must have a current working account with any Indian bank within India to apply for the code.
Here is a list of documents that will be required from you when you apply for your IEC code:
As this code’s whole process is done online, you will also need to have Digital Signatures Certificates for the company’s directors. The DGFT will issue a 10 digit IEC code that will allow you to enter the import and export market.
Now that your registration process has been cleared, we will now talk about importing from China. We would recommend that you get in touch with a renowned shipping company, e.g. Alibaba. Following are the steps to start importing from China to India:
Here is a list of some websites that are among the best wholesale suppliers of Chinese goods:
Once a supplier has been selected, you will need to look at the regulations once more to make sure that all of the documentation and license requirements have been met. It is also necessary to make sure that the products you are importing are allowed in your country. For example, products such as narcotics, pirated goods, certain chemicals, and counterfeits are not permitted in India.
Next, you will need to get in touch with any reliable freight forwarder to manage the shipments. Your import-export company will also need to hire an accountant and a customs agent to deal with importing official documents.
By now, you will be done with the product, freight forwarder, and supplier selection. Adding the products’ cost, the freight charges, and customs duties will give you the landing cost. In case it turns out to be higher than what you would like or what you expected, you can look for any other supplier or freight forwarder to cut your costs.
Once everything has been settled, make sure you always follow the regulations in all stages and file your taxes and returns timely to continue your import-export business. If you want to avoid these complicated process of customs clearance and tax declaration, you can choose our ship from China to India DDP shipping services.
Now that you have an idea of the overall process let’s take a step back and discuss which Chinese products would be the best to import. Needless to say, deciding the right product is vital for any business. If you have a good quality product, you will be able to advertise it with confidence, and the quality will also play a big role in creating your brand image. You also need to be confident that it will have a high demand in the Indian market. For that, you might also need to conduct market researches to know what the consumers need.
Here are some goods that are usually imported from China to India.
Manufacturing companies in China and India are at different development stages, and the homogeneous competition is small. The two countries’ industrial development strategies can be docked, and each other’s markets will promote China-Indian trade development.