Overview
Businesses that import or export deal with three overlapping regimes: customs law for goods crossing the border, the Foreign Trade Policy administered by the Directorate General of Foreign Trade (DGFT), and GST on imports and exports.
The firm advises importers, exporters and manufacturers on registrations, classification, documentation and policy-related compliance, and reviews documentation before it is filed.
When it is typically needed
- Starting to import or export and needing an Importer Exporter Code (IEC)
- Uncertainty about the tariff classification of a product
- Reviewing import or export documentation for compliance
- Understanding the conditions attached to a foreign trade policy scheme or authorisation
Scope of work
DGFT and IEC support
- IEC advisory
- DGFT licensing
- Foreign trade policy support
Customs documentation
- Customs classification
- Import and export documentation
- Compliance support
Trade compliance
- Export-import regulatory advisory
- Documentation review
- Trade-related representation
Terms explained
For readers less familiar with Indian tax and regulatory terminology.
- IEC
- Importer Exporter Code — a ten-digit code issued by DGFT, required for most import and export activity.
- DGFT
- Directorate General of Foreign Trade — the authority that administers India's Foreign Trade Policy.
- HSN / tariff classification
- The product code under the customs tariff (based on the Harmonised System), which drives the duty rate and GST rate.
Scope and limitations
- Customs declarations are usually filed and goods cleared through licensed customs brokers; the firm's role is advisory, documentation review and compliance support.
- Licences, authorisations and benefits are granted by the relevant authorities.