Export tax advice
Hi,
I have got two queries. I am going to start my import /export business this month. I will be using two business models.
1. First, i will be purchasing glass goods from India and exporting these to us and Europe. I have worked closely with other people in the same industry but they do not pay taxes at all. They just buy the goods and send them without paying even a single penny as tax. But I will be paying taxes. My question is if I buy goods in India, I will have to pay extra 18% taxes on the goods as the factory owners do not bear taxes. And when I will export these goods via air frieght, then again I wil have to pay the gst. If I include all these taxes and my desirable profit, my selling price will be higher than the competition. Please suggest that, have I got it right and if there will be any claims to be made. If yes, how much time it will take for the money to get back to me.
2. I also would try to sell the goods on online platforms like Amazon etc. In that case too, i will have to pay double taxes. But if there is return of the products for which I have already paid the gst, how will it be settled then.
Please clarify the claims process as well.
Thanks,
Kind Regards,
Nishant Sharma.