IMPORTANT RULES FOR SETTING UP OF AN EXPORT BUSINESS:
1. Selecting a most suitable type of business organisation viz, Proprietorship,Partnership, others etc.
2. Open a current account with a bank and Register with the Regional Licensing Authority to get IE Code No. and other Export Promotion Councils, ECGC, Sales Tax Authorities, Excise Authorities etc.,
3. Export business correspondence.
4. Forwarding export samples and exhibits.
5. Negotiating with Prospective Buyers and entering into Export Contracts directly, or if necessary,
appoint overseas agents.
6. Understanding new Export Policy and Procedures.
7. Obtaining Credit limit for the Buyer/Buyers's country from E.C.G.C.
8. Obtaining finance for export.
9. Booking Forward Exchange contracts for avoiding Loss from Adverse Exchange Rate Fluctuations.
10.Ensuring Compliance with Quality Control and Preshipment Inspection of goods.
11.Labelling, Packaging, Packing and Marketing Export consignments.
12.Obtaining Excise clearance; and arrange Marine Insurance for goods.
13.Complying with the Exchange Control Regulations regarding Declaration of goods.
14.Preparing/Obtaining Export documents.
15.Shipping and Customs clearance of the goods and Indian customs EII System.
16.Tendering the documents to the Bank.
17.Availing various facilities under new Exim policy 2002-07.
18.Availing export incentives under the Duty Draw Back Scheme.
19.Reimbursement of Central Sales Tax.
20.Availing Tax Exemptions/Deductions under the Income Tax Act and Sales Tax Laws.