Dear all Sellers,
Recently, we had lot of problems associated with the withdrawal of the funds and fortunately, it is now resolved. On 9th March 2010, we had a Seller Meeting at
Ahmedabad which covered all the important aspects of selling internationally on eBay.
The meeting was conducted by Mr. Sainath Pai and Mr. Jinesh Joshi. They clarified everything that we need to know regarding international selling on eBay. I would
like to thank both of them for a great presentation and clearing all the doubts related to cross border selling.
Here are the clarifications of our long awaited questions:
How to ship the item?
From now onwards, in order to ship an item, it is advisable that we include an invoice along with the shipment. It should be a commercial shipment and not a
"gift" or a "free sample for promotion".
What if we still label it as gift or sample?
In that case, there may be an inquiry and at that time it would be difficult for us to prove that we are doing a legal business. So there should be a judicious use of "gift" or "samples". The government has restricted the use to INR15000.00 per year.
The item should be accompanied by a commercial invoice in which the true value of the shipment should be declared.
Is this export?
Yes, as per RBI, the single item cross border sale is a legal export if it is sold via proper channel. For this the seller must ship the item as a commercial item and not as a sample and they should include an invoice.
Is this legal?
Yes. RBI has accepted the single item export as a legal business and it is encouraging it. Like every new thing has some teething problems, we all (sellers, RBI and eBay) are passing through this stage and eventually this will evolve.
What to mention in the Custom Declaration Form?
Invoice Value. Commercial shipment.
What all records are required to be maintained by the seller now?
1. Purchase invoice
2. eBay Invoice copy given to the buyer
3. PayPal transaction details pertaining to the sale.
4. Proof of shipment.
Therefore, we need to keep a filed record of the above 4 things for each and every transaction that we do on eBay.
Is IEC mandatory for International Sellers?
Yes. Without IEC, our sales cannot be considered as a legal export.
Do we require separate FICRs?
No. We need 1 FICR per remittance from PayPal and not as per the transaction. For example, if I sell 100 items worth 2 Dollars and withdraw an amount of 200 from my PayPal account, then I will required 1 FICR for USD 200.00 and not 100 FICRs for $2.00 each.
Can we sell old coins, stamps, documents on eBay that are more than 100 year old to international buyers?
No. It is illegal to sell any collectible older than 100 years. This is punishable by law.
Wis you good luck for the new innings.
Kind Regards,
Mustufa
problems are opportunities
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