Hi Im Murtaza an Engineering student (always short of money) Im an amateur astro lover.
I had an old, very poor quality refactor telescope, and now Im planning to import some 50 Telescope from China so that I can feed my desire of having a good quality (at least 6 to 8 dia. telescope) and also sell it here, I wanted to know what kind of stuff that Im supposed to deal with (any leads are welcome)
planning to sell in on eBay and through my own network. 5 deals already confirmed (if I get them)
those are good quality telescope as I have been using myself from the past one year, they will cost me some 1000 yuan in China, I want to know import tax, VAT, and all that Im supposed to pay.
I know that Chinese govt. is very legitimate about this stuff, they dont really create a lot of mess.
I wanted to know what are the basic stuff clearing Im supposed to get to sell them in India.
pls, help me (I really have no idea about this)
I wont mind sharing the perks if someone gets me through the whole process.
Regards Murtaza (sorry for the brevity)
bhavesh shah
Hi
If you are going to import it in your name you need to import export code (IEC ) from DGFT … If you want to learn a few things and have time on your hand suggest you do it yourself else you can get a c & f agent to do it …
Next you need to finalise your order and get the performs invoice from your vendor ( you can find many from alibaba.com ) Confirm on your payment, delivery , quality, price, packing ( important if goods are fragile ) .. Ask for customer references ..factory size , employees strength etc to get a feel of the company if you don’t know them….
While finalising you need to confirm whether your shipment is going to be CIF or FOB ( google for the meaning if you can’t find ask me )
If its FOB you will need to finalise the freight and local customs clearing with the c & f agent – be careful here . What you are quoted and billed are 2 diff things so ensure you get everything in writing and make sure they write nothing extra will be charged expect perhaps the bribes … With if you want to have more fun .. You can go and negotiate with the customs office … Threathen him with anti corruption if he asks too much bribe …I did that in my first shipment and got an immediate 50% discount :).. You should be able to get it free of bribes as its small value consignment … Be careful if you shipment is not cleared in 3 free days ( u can try and ask for more ) … You will be charged demurrage charge …
Once shipment is dispatched give the papers to your agent for customs clearing you don’t need to wait till it arrives – if you wanna learn do it yourself …
Pray to god
Pay duty .. Take delivery … Check for damages, qty and quality … Pray to god again
Keep a meticulous record of expenses and time from day 1 … Accounting is very important … What habits you form now will last you long
I don’t think you need to charge for sales tax if your sales is less than 10 lakhs but pls check up the vat website of your state or visit them for more learning and fun..
Keep I. Touch with your customers , note their birthdays… Take a feedback whether they like the product or not … See if you can help them in any other ways even if it’s non commercial / non profit if ssible by you…
any help let me know
Best of luck
Bhavesh Shah
chirag
Try this.
It’s a plug, but here goes
https://buynow.indiamart.com
No IEC etc. etc. Seller ships to India Direct (you can pick a premium shipper like DHL). Pay customs on receipt and you are done.
Complete with an escrow. Once you receive it, just give the ok and the payment is released to the seller.
Murtaza Amin
Bhavesh Thank you for the info. but I dont think I would be able to handle all these stuff, I know a guy who is into this, I just want to know how much custom am I supposed to pay?
can we take this over call? pls
my number is 9029070060 (pls send me an SMS I will call you back)
Sukhneer Singh Guron
Hi,
This is my first post here.
Lets see, Your price for 10 telescopes is 10,000 yaun which equals 82000 INR. Since you didnt mentions shipping cost ill guesstimate it to be around 7000. Adding these two will give you the CIF value.
Total CIF value would be 89000 INR
This import comes under import code 90058010. That would make for 10% Base duty, 10% CVD, 4% Additional duty, 3% cess. Add 300rs or 1% as handling duty for DHL.
So your Total duty = 24134 + 300 = Rs. 24,434
( Your calculations would give a different number. Thats because of the way calculated and compounded )
ravneesh dhaneshwar
Its not as simple as it seems, you have to make sure that they have all the relevant licenses. There is a lot of paper work required in china when they send goods out. Then when it reaches India there is a lot clearing required and its time consuming. If you are not into it full time it can be a rough experience.
Research the company well before making any payments to them. They very rarely stick to deadlines. Certifications are charged extra. Be double sure and very careful,
A simpler way of doing this is checking out importers in Delhi who have stock available with them or will get it for you.
Murtaza Amin
Well, thanks for the info. I know a guy who brings Laptops Parts from China, I used to work fro him, I contacted him, he says that the company will ship me here in Shenzen, and I will send it to you with my Laptop parts, is this a doable stuff?
Gopikrishna Kannan
Hi, i can help you to procure the telescopes from China and deliver it to your doorsteps, let me know if you are interested.
tweet@gkrishnak1
mail:gkrishnak1@gmail.com