Reyansh Goswami

I suppose that as a rule the Shipper creates the Commercial Invoice. The document should include accurate and true information. Do not be tempted to devalue products, or guess any of the information; The shippers full business name and address including country. Product code, description, serial number, quantity, and value in sale currency. HS code and / or ECCN Number - you must ensure these are correct. Weights & dimensions of the package(s). Full business name, address, contact name, number and email address for the consignee. Information about Lithium batteries if applicable. If you require help creating you Commercial Invoice, or would like us to check your current template then please do let us know and we'd be happy to help. Note that we check CI's prior to the movement of a live job.

Incoterms do not cover property rights, possible force majeure situations and breach of contract. Include of these within the contract of sale. Similarly, all incoterms except the C terms do not assign responsibility for arranging insurance. Cargo insurance is, therefore, a separate cost for buyers.

Yes. Whether brand-new or used, purchased or donated, the imported vehicle is subject to 40% Customs duty, 10% VAT and Ad Valorem Tax from 15% to 100% depending on its piston displacement. Its book value serves as the tax base and not the purchase price nor the acquisition cost. The book value is sourced from universally accepted motor vehicle reference books such as the Red Book, Blue Book, World Book depending on the origin of the imported vehicle.

This is the most frequent question I have to answer in my daily practices. Every person who is doing business with international partners (or just plans to do it) has to be aware of the following details: All the transactions that have an international financial importance for your country are being conducted according to Foreign Exchange Management Act (FEMA) from 1999, and the exchange control is regulated by the Reserve Bank of India (RBI) in concordance with this document. The Indian currency is fully convertible for trade, except of some specified restrictions. It can be exchanged at the one's ease for a foreign currency for the scope of organization of trade or current account transactions. RBI has a main role in the management of foreign currency and realizes exchange control, leaning on: - Providing special or general permission that allows to implement transactions in foreign currency - Specifying conditions for payment in respect of capital account transactions - Regulating the transfer or issue of foreign securities to residents in India and Indian securities to non-residents - The accounts of non-resident banks and rupee accounts of non-residents other than banks are also governed by the RBI. Let me know if you have any questions regarding your specific situation (the currency you are going to work with).