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If an Indian company wants to demonstrate its product outside India, what are the legal formalities involved to do it? What documentations are required?

Submitted by LegalWizin on Tue, 01/14/2020 - 09:01

To answer this question, I would state an excerpt from an article, which talk about the steps to follow before demonstrating products outside India.

Legal regulations of the home country are equally important and prime before stepping into other country. The businesses must know which rules are required to be followed for exports of goods or services. In India, the exporters must obtain Import and Export Code. It is a primary requirement to commence export activities. It is mandatory to apply Import Export Code online on the common web portal of DGFT under Foreign Trade (Development & Regulation) Act, 1992. Apart from IEC registration, the exporter should also register under GST and file LUT to claim benefit of exempted exports.

In short, you need to do following:

  • Obtain Import-Export Code
  • Obtain GST Registration
  • File Letter of Undertaking (at the option of exporter)

Other requirements may arise based on nature of business and products. Also, the exporter must take note of the taxes and compliance requirements at the country where the product is demonstrated.

Footnotes

[1] Know what you need to take your business global
[2] Exports under GST: Filing LUT online