Question

What is import purchasing?

Answer 1

Answer:

==>Import means purchasing from an outside source beyond the territorial jurisdiction of the country. When an industrial organization requires certain materials, plant and equipment, which are either not available within the country or are available from a foreign source at a cheaper price.

Explanation:

==>Import procedures

Typically, the procedure for import and export activities involves ensuring licensing and compliance before the shipping of goods, arranging for transport and warehousing after the unloading of goods, and getting customs clearance as well as paying taxes before the release of goods.

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