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Showing posts from June, 2018

Importance Of Declaring The Correct Value Of Your Shipment

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With E-commerce business being a super hit in India, E-sellers are now heading to surmount the global market. The saturation of domestic market has made the E-sellers to try out their luck in the foreign soil. Shipping to the International customer is as challenging as penetrating into the global market. International shipping is divergent from that of domestic shipping, with major hiccup being the customs.
Every country has its own threshold for declaring the product value as personal shipment, if the value exceeds the threshold, it is considered as commercial shipment and custom duties and taxes will have to be paid. Seller has to declare exact value of the package in customs while shipping internationally, as one of the factors which are involved in calculating customs duties is assessed value of goods. Hence sometimes sellers undervalue the shipments in order to shy away from a large amount of customs duties inflicted on the goods. This is contemplated as illegal and unethical whic…

AD Code - A Quick Guide On Registration

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The demand for online shopping has dissolved the borders and shrunk the world. Logistic industry has turned over to a new leaf due to advanced technology, which has encouraged E-sellers to do international shipping. With greater market for Indian goods abroad, E-sellers must ensure that they are well equipped to render their product and services to customers in every nook and corner of the globe. It's intricate to perceive customers buying pattern, you never know when a foreign customer may admire your product and order it. Hence you have to plan and be ready with documents and registrations beforehand to do International shipping. One such document required for import/export of your goods is AD Code. Any businessman who wants to import or export his goods to another country must obtain IEC (Import Export Code) from Directorate General of Foreign Trade. Since you are remitting or receiving foreign currency to your bank account, it is necessary to get AD Code from the bank and regist…