In layman's terms, a merchanting transaction is one in which products are shipped from one foreign country to another through an Indian intermediary. As a result, it is also known as Intermediary Trade.
A merchant exporter is someone who engages in trading and exports or intends to export goods. They lack a manufacturing facility. They purchase goods from a manufacturer-exporter and then ship them to clients in other countries.
GST is no longer applicable to merchant trade transactions as of January 1, 2019.
A trader purchases and sells financial instruments including stocks, bonds, and derivatives. A merchant is a type of businessperson who makes a profit by trading in commodities that he did not manufacture himself.
In the Philippines, there are three types of imports: those that are I freely importable, (ii) restricted, and (iii) forbidden. Goods that can be imported without the approval or clearance of any government body are known as freely importable commodities.
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