How can I start a medical supply business?
This is a question that requires a long answer, but I'm not going to hit on EVERY component you'd find in a biz plan.Instead, let's just address step number 1 ... it's vital you nail this one down, and if I were a betting man, I'd bet you've already done this.You'll Need a SupplierDon't do anything else first. You have to have a supplier relationship where there's a strong comfort level on both sides.Don't be demoralized if they have place you on C.O.D. terms at the outset. You'll have to prove to them you are a low-risk in terms of paying on time.Furthermore, seek a relationship where perhaps you can obtain some exclusivity in your territory. This mainly applies if are just going to be a local medical supply business.It's not a high priority, but see if you can be the first person to be notified of closeouts that can STILL BE sold. Don't be surprised if you can gain some nice margins on closeout items.Again, I can't stress enough nailing down the supplier or suppliers to your start-up. Without them, there is no business.
Do I have to acquire some type of license to sell medical equipment on an e-commerce site?
This depends on each country, but will be necessary in most of them. Among other things, the local or federal (health and commercial) authority must certify that the business complies with standards for handling and storage of medical products and equipment, and that this does not pose a risk to its customers, even if they make their products online.In many cases you will not be able to ship your products outside of your own country. In the United States, special permits are required for this, and destination countries may not accept them. Check the site of FDA.Your suppliers (suppliers, medical equipment manufacturers, pharmaceutical laboratories) also require you to comply with standards for handling and shipping your products, because in serious cases they could be liable and prosecuted. You could also be sued. Check local laws and industrie consultants to avoid getting into trouble.https://oig.hhs.gov/oei/reports/...Importing into the U.S.
What is the process of importing machinery from China in India, with the import duty and other charges?
The process of importing machinery from China in India has little bit changed, after implementation of Goods and Services Tax or commonly called as GST in India. Here some points to be noted:First of all, you should know the correct HS Code of your product. Machinery comes under Chapter 84. So, you need to find which kind of machinery you want to import from China into India and machinery HSN Code in India and HS Code in China.For importing goods into India from any part of the world, GSTIN or Goods and Services Tax Identification Number is required.Now the import duty for importing machinery from China into India has been revised after implementing GST. Few taxes have been subsumed under current law. Apart from Basic Custom Duty, IGST or Integrated Goods and Services Tax is also charged. Select your product and find machinery import duty in India.I hope this information is useful!