International Speed Post, also referred to as EMS is a premium service brought to you by India Post. EMS deals with international postal delivery and courier services. It is quite popular among masses for fast delivery, cost-effectiveness and tracking services for documents and merchandise.
Cross-border trade has given Indian Micro, Small and Medium Enterprises (MSME) a great chance to explore the international market and sell their products to a greater audience overseas. The Government of India has introduced various policies like the MEIS (Merchandise Exports from India Scheme) Policy to support cross-border trade from India. The primary objective of the new FTP: MEIS 2015-20 is to increase exports to USD 900 billion by the year 2019-20 from USD 466.
In the last blog, we spoke of two important factors while selling internationally – the shipping and the De-minimis value per country. Now let’s move forward with other important considerations.
When you think of cross-border trade, a huge international market is waiting to be explored. The Amazon 2017 consensus states that India has seen a 244% growth in Indian exporters. Exporters are selling a vast variety of items through their channels. These range from home decor materials, bed sheets, Art supplies and even leather bags. These items are a huge hit in the west and people are looking to buy them. By 2025 the e-commerce sector in India is expected to reach $220 billion. Thus, it is a good time to get out there and sell your products internationally. The market is growing and the process has never been easier.
Selling across continents may sound easy but it involves a lot of groundwork before you can make the plunge. Thus, this series will guide you through the various considerations you need to review before selling internationally.
As eCommerce has broken geographical boundaries, a significant part of it requires shipping to international locations. However, international shipping may come with some catches. There may be instances when you may need to pay more due to hidden fees and costs. As such it is always good to have an idea of these hidden fees and come up with strategies to reduce them.
The government of India introduced the Goods and Services Tax (GST) in 2016 across the country. It was a move to make the entire taxation process of India more flexible. The impact of GST has been quite varied on different sectors of the economy. One the crucial sectors that GST has impacted in the import and exports. Exports and imports are important contributors towards revenue generation in the country, which is why it is also essential to study the impact GST has on it.
However, there is a lot of ambiguity among eCommerce entrepreneurs on the possible impact of GST on the export of various goods. So, if you’re worried about the same issue, don’t worry, we’ve got you covered!
Read on to find out how the new regime of GST is impacting the export of goods and services in India-
As an eCommerce seller, to begin your export trade, you are first required to apply for GST. The process of application for GST is quite simple and can be easily done in a few steps. You must keep the required documents handy and the detailed notifications regarding the same can also be found on the government’s website.
