There is an innate tax implication for all global transactions. For every business, it is mandatory to address these liabilities according to Indian rules and acts and for appropriate tax compliances and to mitigate risks for your business, our team offers expert advice in respect to customs, imports and export incentives.
Custom import and export consulting
Custom , Import and Export Consulting
Our expert advisor
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- Foreign Trade Policy and SEZ Regulations.
- IEC Registration
- Special Valuation Branch order
- AEO certification
- EPCG
- DFIA
- PTA & FTA
- Customs duty refund
Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfil the goals of an organization. In management accounting, internal measures and reports are based on cost-benefit analysis.
Tax accounting in the United States concentrates on the preparation, analysis and presentation of tax payments and tax returns. The U.S. tax system requires the use of specialised accounting principles for tax purposes which can differ from the generally accepted accounting principles (GAAP) for financial reporting.
Depending on its size, a company may be legally required to have their financial statements audited by a qualified auditor, and audits are usually carried out by accounting firms.
No matter your business’s size or where you are importing goods from, the importing process can be a maze of confusing paperwork and shipping procedures.
The U.S. government is strict on import compliance because it provides an important layer to protect national security interests
Yes! As an importer, the government holds you solely responsible for adhering to trade compliance regulations
Export Solutions offers managed services backed by years of experience with a team of import consultants who help organizations comply with the U.S. and international import regulations.
We are a full-service consulting firm with an in-depth knowledge base of trade compliance.
Your business is unique, with its challenges and needs. Here are some ways that our import consulting services can help your business:
- Provide focused training to help educate and equip your staff about import compliance.
- Evaluate and improve your trade compliance functions through a process of audits and assessments.
- Support import licenses from the initial draft to final submission.
- Act as a “sounding board” and resource to answer questions, resolve issues, and avoid import violations.
- Handle various documents like bills of lading, commercial invoices, freight shipping forms, etc.
Export Import Policy or Exim Policy under the Foreign Trade (Development and Regulation Act), 1992 governs the exports and imports. The latest version is Exim Policy 2015-2020. India gets preferential treatment under various different Preferential Trading Agreements [PTAs], Free Trade Agreements [FTAs], Comprehensive Economic Cooperation Agreements [CECAs] and Comprehensive Economic Partnerships Agreements [CEPAs] in bilateral and multilateral relations. Global norms are governed by World Trade Organisation (WTO) and various enabling institutions.
Special export dedicated areas:
The government and the industry have created special physical areas for promotion of Exports. They are:
EOUs: Export oriented unit
EHTPs: Electronic hardware technology park
STPs: Software technology park
BTPs: Biotechnology Park
In these free trade zones, the value of the goods exported should be not less than 50% from the domestic market. The basic purpose behind them is : Export promotion, creation of a cluster, supply chain, logistics, etc
Type of payment mechanism agreed between the exporter and importer is very crucial in international trade. There are three types of payment mechanisms.
CLEAN PAYMENTS In clean payment method, all shipping documents, including title documents are handled directly between the trading partners. The role of banks is limited to clearing amounts as required. Clean payment method offers a relatively cheap and uncomplicated method of payment for both importers and exporters.
There are basically two type of clean payments:
Advance Payment
In advance payment method the exporter is trusted to ship the goods after receiving payment from the importer.
Open Account
In open account method the importer is trusted to pay the exporter after receipt of goods.
The main drawback of open account method is that exporter assumes all the risks while the importer get the advantage over the delay use of company’s cash resources and is also not responsible for the risk associated with goods.