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Laws Governing Exports from India: Best Corporate Lawyer Advice

In our country, the law governing export and import is “Foreign Trade (Development and Regulation Act), 1992 (FTDR Act) which has replaced the Imports and Exports (Control) Act, 1947” gives the Indian government the authority to establish export policies and to make orders that forbid or somehow controlling the export of products. Exports and imports are to be "free" unless they are subject to "prohibition," "limitation," or "preferential selling through “State Trading Enterprises (STEs)" as specified in the Indian Trade Classification (Harmonized System) (ITC (HS)) of Exports and Imports, according to the Foreign Trade Policy of India 2015-2020 (FTP)”. The...

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International Payments & Cross Border Remittances under Franchise Agreement: Best Corporate Lawyer Advice

All financial transactions involving the transfer of foreign currency into or out of India are governed by the Foreign Exchange Management Act, 1999 (FEMA), as well as the rules and regulations established under the FEMA. All of them are collectively known as "foreign exchange control regulations." The Reserve Bank of India (RBI) is the central bank of India and is responsible for overseeing and enforcing the laws governing foreign exchange. The terms and circumstances for transactions that are permitted as well as those that are banned are outlined in these rules. The majority of fees—which are normally paid by franchisees...

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Franchise Business & Indian Taxation Regime: Best Corporate Lawyer Advice

Direct taxes and indirect taxation are the two divisions of tax laws in India. In India, a direct tax is imposed on the taxpayer's earnings. Indirect taxes are assessed on the delivery of goods and services and are controlled by legislation governing the goods and services tax. The principal legislation controlling all income taxes is the IT Act (“GST Laws”). A. Taxation of Franchised Businesses in India In India, the IT Act requires master franchisees and sub-franchisees to pay direct taxes, while the GST Laws require them to pay indirect taxes. Depending on a taxpayer's residency status during a given fiscal year,...

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Entry Strategies for Franchise Businesses in India: Best Corporate Lawyer Advice

Foreign franchisors can choose from a variety of business structures that are frequently utilised for establishing a franchise business since the connection between the franchisor and franchisee is defined by a contract. These covers giving Indian franchisees the right to get a “single-unit franchise”, a “multi-unit franchise”, an “area-development agreement”, or “master franchise” rights. The foreign franchisor is not required to establish a presence in India, although some do create a subsidiary or form a joint venture to have more control over the franchised firm. 1. Establishing a Subsidiary in India: Under this agreement, the franchisor's Indian subsidiary is given the authority to...

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Legal Procedure to follow for Exports from India: Best Corporate Lawyer Advice

Aside from situations where they are restricted by this Policy's clauses or any other currently in effect laws, exports and imports are allowed to take place for free. The item-by-item export and import policy must follow the guidelines in ITC(HS), which are periodically updated and released by the director general of foreign trade. However, the Director General of Foreign Trade may outline the clauses in a public notice under which any items that are not covered by the ITC(HS) may be shipped without a permit. Additionally, the exporter must confirm the necessity of an export licence before applying for one...

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Application of Goods & Services Tax GST in Exports from India: Best Corporate Lawyer Advice

For almost more than 30 years, the government has prioritised exports in all of its regulatory endeavours. Exports still receive this special protection owing to the "Make in India programme" since they shouldn't be liable to domestic taxes. However, the input-output chain cannot be disrupted according to GST, and exclusions often cause this to happen. Goods shipped are regarded as zero-rated supplies. No GST will be assessed on the export of any products or services. The Government has chosen to address all of these significant factors through zero-rated supplies. The tax imposed on inputs for the transport of select items was...

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Important Documents required for Exports from India: Best Corporate Lawyer Advice

India's export industry is expanding and includes everything from clothing to food. An export firm must include export documentation since they help the seamless flow of commodities, services, and transactions on the international market. The export documentation crosses international boundaries with each shipment. This paperwork needs to be revised and finished out correctly in order to avoid any legal issues in the coming years. These records are used for tax evaluation and verification of the results of quality control investigations, in addition to providing information on the product and its destination. India made a significant improvement to the "Ease of...

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Legal Advice on Exports from India: Best Corporate Lawyer Advice

Exports and imports are significant components of a nation's overseas trade. The exchange of services and commodities between nations across international borders is referred to as foreign commerce. By import, we refer to the actual transfer of things into a nation from overseas or some other nation. Imports meet local consumer requirements by bringing products made in another nation to the nation of origin. In a similar way, Exports indicate the authorised physical exportation of products from the nation of origin. Therefore, trade across international borders has become possible due to imports and exports. The individuals engaged in such commerce...

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Sample Investment Term Sheet for Start-ups: Best Corporate Lawyer Advice

This sample investment term sheet or draft investment term sheet is prepared in general way for the Start-ups in India who are looking forward to investments or foreign investments in their Start-ups. The entire idea is to impart basic legal education and/or primary knowledge of the basis legal clauses which is/are to be included in an investment term sheet. This document shall also help in enriching the Entrepreneur with the basic knowledge of the business laws of India, corporate laws of India and the basic compliances before taking investments in India. Draft Investment Term Sheet This non-binding term sheet summarises the major...

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Liability to pay Anti-Dumping Duty in International Trade: Best International Trade Law Advice

“Anti-dumping duties are levied on imports that are made overseas and are sold for less than similar products on the domestic market. When it thinks that a product's low price on the local market indicates that it is being dumped, the government puts anti-dumping duties on foreign imports. The Government from time to time revises the duty and the same involves a lot of legal hassles to deal with. Obtaining a proper legal advice from the best import export attorney or import export law firm or customs lawyer is inevitable. Further, any failure to pay the duties involves huge fines and...

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