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Import/Export of Services
If you are planning to start you business in importing/exporting your services offerings then following things
will be required for you to get started
PAN Card of the Sole Proprietor – PAN Card in the individual’s name will be enough for filing tax
Bank Account in the name of your Sole Proprietorship business
If you are collecting tax either from the customers or your employees then a TAN is Must and complete
procedure to apply TAN is explained in simple terms here –http://www.startupfreak.com/how-to-get-tan-
number-in-india/
If you are buying or selling taxable goods within a state, then VAT registration should be obtained. And if
you are buying or selling taxable good across different states then you have to obtain CST registration.
Professional tax if hiring employees
For exports of services, Indian service tax is not applicable. To avail this you need to keep all the FIRC
(Foreign Inward Remittance Certificates) which your bank will send you each time you receive money from
abroad into your account (if your bank does not send the FIRC automatically, you need to request your bank
to send you the same). The FIRCs will prove to the service tax authorities, that all your income was
generated from exports of services and hence the Indian service tax is not applicable.
Import/Export of Goods
When you want to do international trade for Goods/Products then apart from all the above mentions
registrations you need to obtain a unique 10 digit Importer Exporter Codealso, without which you cannot
carry on the import and export activities. DGFT – Director General of Foreign Trade and Ministry of Commerce
in India are the two higher authorities that administered the process of issuing IE code to the respective
applicants.
3. Other Registrations
Once you get your Importer Exporter Code, you need to register your IEC and Authorized dealer code details
with the port through which you are exporting or importing. If you are going to export by sea, you need to
register with sea port customs and if export by air, with airport customs.
If your product falls under excisable goods [Read What is Excise Duty], you need to register with nearest
central excise department to claim necessary export excise benefits under your goods exporting. The
registration has to be done within the jurisdiction where your shop is located.
If you are manufacturer and exporter then many Government agencies support such export to boost Indian
economy and will assist you with all kinds of support including financial. You can obtain Registration Cum
Membership Certificate (RCMC) from Export Promotion councils.
Register with Sales Tax Authorities
All the Best!