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Export Opportunities through Online business – eCommerce Business

adminnk by adminnk
September 3, 2020
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The eCommerce business is changing the way of doing business in the Global Market. For the last 20 years, we have seen the great advancements in eCommerce business and becomes more popular for the last 10 years it is the common way of doing business in developed countries like China which has a large contribution to the eCommerce business, USA, and the UK. The percentage of retails through online platforms varies from country to country it is 13.5% in China, 2.5 % in Italy, etc. It is a rapidly growing market.

E-commerce represents the opportunities for the consumers as well as businesses

Consumers get access to a variety of goods in one place without putting many efforts by just one click and businesses can use a new market leaving the last one which was not profitable or difficult to do the business there.

Factors on which eCommerce business success depend on:-

  • Internal Discrepancies
  • Conducive policy environment

To facilitate use of e-commerce in exports DGFT has made provision of eCommerce in Foreign Trade Policy 2015-20.

Goods that are exported through e-commerce are made eligible for the benefits under MEIS Scheme. It is the Government incentive scheme under which exporters can avail the benefits on transactions earned by selling the products through eCommerce in the form of Duty Credit scrips which can be sold in the open market at a premium rate.

The Commodities which are exported by Post/Courier through e-commerce are eligible to avail the benefits under the Government Incentive Scheme

  • Handloom goods
  • Handicraft Products
  • Leather Footwear products
  • Books/Periodicals
  • Customised Fashion Garments
  • Toys made up of plastics and other materials.

As per Foreign Trade Policy (FTP) 2015-20, exports of goods through

e-commerce of FOB value up to Rupees 5 lakh per consignment shall be entitled to rewards under MEIS.

If FOB value is more than Rupees 5 lakh per consignment, then the benefit would be limited to the FOB value of Rs. 5 lakh only.

The Goods can be exported in manual mode through Foreign Post Offices(FPOs)at  New Delhi, Mumbai and Chennai.

List of the documents required to prepare to claim the incentive for eCommerce business

Active IEC issued from DGFT (Directorate General of Foreign Trade)

Invoices with PBE which stands for Postal bill of exports containing following details:-

  • Website URL by which goods have been sold.
  • Stock Keeping Unit no. is a reference link to the sale by e-commerce on the website.
  • After selling on website payments transaction reference no. corresponding payment received through international /Debit card or credit card.
  • Digital signature Certificate(for the Incentive purpose),

Online Application for the Incentive:-

The Applicant shall file an online application along with ANF 3D with the help of a Digital signature and valid copy of RCMC which stands for registration cum membership certificate.

Online application needs to be made separately for each port.

The applicant shall submit the express operator landing certificate/online web tracking print out indicating airway bill number as proof of landing.

Concern Authority of DGFT shall check all the data filed in the online application then the exporter gets the license. Exporters can attach the soft copy of required documents online with the help of DSC and have to retain the documents for the 2-3 years as DGFT may ask for verification any time in the next 3 years after the issuance of license.

Under Advance Authorisation Scheme license issued to allow the import of inputs required to manufacture the export goods without paying customs duty.

Under SEIS Scheme Government is giving the incentive in the form of salable scrips that can be sold in the open market.

Tags: businessE-commerceMEISOnline Business Opportunity
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