Risk Management in Imports and Exports in India

Every organization is exposed to uncertainties involved in imports/exports. Growing free trade agreements and internationalization of commodities due to outsourcing of intermediates has forced even the most conservative organizations to import raw materials, components and intermediates, so as to remain cost effective and competitive. Therefore, every moderate to big size organization must identify the risks associated with such imports. This book provides a guide not only to identify the business risks, be it commercial or legal; but also suggests as to how to build a compliance program. Even the regulators want the importers and exporters to be more law abiding and tax compliant so that the process of liberalization and simplification of procedures can be taken to its culmination stage.

Features:

• The book is written in simple layman’s language. The reader is not required to be expert in law.
• The book deals with risks involved right from pre-shipment stage (contract of sale) to post import stage (VAT rules). Therefore, it is a very comprehensive study.
• This book not only refers to basic customs laws, but lays special thrust on allied Acts which are gaining more “teeth” in light of globalization and biodiversity issues.
• The book lays special thrust on the importance of tariff classification and commodity valuation in International trade. The book offers a comparative study of practices and regulations followed all over the world.
• The book draws references from research articles and books written by authors of the world, thus, making it truly international in style and appeal.
• There is hardly any competing book in this field in India. However, there are parallel works in other developed countries. But those books cannot be replicated to Indian laws and regulations. Therefore, this book is a first attempt to analyze the trade risks and their remedies within Indian laws.

This book provides a guide not only to identify the business risks, be it commercial or legal; but also suggests as to how to build a compliance program. Even the regulators want the importers and exporters to be more law abiding and tax compliant so that the process of liberalization and simplification of procedures can be taken to its culmination stage.