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Can a sole proprietorship company do an import-export business in India?

Submitted by LegalWizin on Thu, 12/12/2019 - 09:54

Yes, it can surely do!

With respect to eligibility there is no restriction on the business organisation structure.

For import and export business in India, you need to take care of few legal formalities, which are listed below for your reference:

  • If your business is already established, obtain Import - Export Code from DGFT. Find the guide on registration by an individual/ proprietorship firm at the footnote[1]
  • File the Letter of Undertaking (optional) to opt for non-payment of taxes on export. If one do not file LUT, the exporter needs to first pay the taxes at the time of export and then process the refund form Government. [2]

I hope this helps you on your query!

You can seek help for these formalities here: Tax Registrations & Filings - LegaWiz.in