Export Import Insights | Impex Consultancy

Understand HS Classification, Customs Duty, Import-Export Policy & Common Mistakes Choosing the correct HS Code is one of the most important steps in an import or export transaction. Many businesses select an HS Code based only on the supplier's invoice, an internet search, or a code used for a similar product. This can be risky. The correct classification can affect: Customs duty Import policy Export policy Licensing requirements Regulatory compliance Trade agreement benefits Customs clearance Documentation Overall landed cost For this reason, HS classification should be checked before placing an import order or shipping an export consignment. Important: HS classification depends on the actual characteristics of the goods and the applicable tariff rules. The information below is for general educational purposes and should not be treated as a classification ruling for a specific product. What Is an HS Code? HS Code means Harmonized System Code ...

Everything Indian Importers & Exporters Should Know About DGFT Starting an import-export business in India is an exciting opportunity, but international trade involves several registrations, licences, policies and compliance requirements. One of the most important government authorities for India's foreign trade framework is the Directorate General of Foreign Trade (DGFT) . For a new exporter or importer, terms such as IEC, DGFT, EPCG, Advance Authorisation, SCOMET, Export Promotion Schemes and RCMC can initially seem complicated. This guide explains the role of DGFT and the major areas that businesses should understand before starting or expanding international trade. Important: DGFT rules, procedures, notifications and requirements can change. The requirements applicable to a transaction depend on the product, HS classification, destination, scheme and other circumstances. Always verify the current requirements before taking action. What Is DGFT? DGFT stands for ...