Registration of Exporters.


MODES OF INTERNATIONAL TRADE

Once all the research and analysis is done its time to get registered with the various government authorities.

Registration with Reserve Bank of India (RBI)

Prior to 1997, it was necessary for every first time exporter to obtain IEC number from Reserve Bank of India (RBI) before engaging in any kind of export operations. But now this job is being done by DGFT.

Registration with Director General of Foreign Trade (DGFT)
For every first time exporter, it is necessary to get registered with the DGFT (Director General of Foreign Trade), Ministry of Commerce, Government of India.

DGFT provide exporter a unique IEC Number. IEC Number is a ten digits code required for the purpose of export as well as import. No exporter is allowed to export his good abroad without IEC number.

However, if the goods are exported to Nepal, or to Myanmar through Indo-Myanmar boarder or to China through Gunji, Namgaya, Shipkila or Nathula ports then it is not necessary to obtain IEC number provided the CIF value of a single consignment does not exceed Indian amount of Rs. 25, 000 /-.

Application for IEC number can be submitted to the nearest regional authority of DGFT.
Application form which is known as "Aayaat Niryaat Form - ANF2A" can also be submitted online at the DGFT web-site: http://dgft.gov.in.

While submitting an application form for IEC number, an applicant is required to submit his PAN account number. Only one IEC is issued against a single PAN number. Apart from PAN number, an applicant is also required to submit his Current Bank Account number and Bankers Certificate.

A amount of Rs 1000/- is required to submit with the application fee. This amount can be submitted in the form of a Demand Draft or payment through EFT (Electronic Fund Transfer by Nominated Bank by DGFT.

Registration with Export Promotion Council

Registered under the Indian Company Act, Export Promotion Councils or EPC is a non-profit organisation for the promotion of various goods exported from India in international market. EPC works in close association with the Ministry of Commerce and Industry, Government of India and act as a platform for interaction between the exporting community and the government.

So, it becomes important for an exporter to obtain a registration cum membership certificate (RCMC) from the EPC. An application for registration should be accompanied by a self certified copy of the IEC number. Membership fee should be paid in the form of cheque or draft after ascertaining the amount from the concerned EPC.

The RCMC certificate is valid from 1st April of the licensing year in which it was issued and shall be valid for five years ending 31st March of the licensing year, unless otherwise specified.

Registration with Commodity Boards

Commodity Board is registered agency designated by the Ministry of Commerce, Government of India for purposes of export-promotion and has offices in India and abroad. At present, there are five statutory Commodity Boards under the Department of Commerce. These Boards are responsible for production, development and export of tea, coffee, rubber, spices and tobacco.

Registration with Income Tax Authorities
Goods exported out of the country are eligible for exemption from both Value Added Tax and Central Sales Tax. So, to get the benefit of tax exemption it is important for an exporter to get registered with the Tax Authorities.

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What is New?
Date: 19-08-2014
Customs Circular No 09/2014
Regarding Guidelines for considering request for exemption from payment of Customs Duty under Section 25(2) of Customs Act, 1962.

Date: 14-08-2014
Customs Notification No 71/2014 (NT)
Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Date: 14-08-2014
Customs Notification No. 39/2014-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of Ceftriaxone Sodium Sterile originating in or exported from the People's Republic of China, for a period of five years.

Date: 13-08-2014
Notification No.02/ 2014-Customs (SG)
Seeks to levy safeguard duty on imports of Seamless Pipes and Tubes into India for a period of two and a half years.

Date: 13-08-2014
Customs Notification No. 38/2014-Customs (ADD)
Seeks to extend the validity of notification No. 119/2010-Customs dated 19.11.2010 for a further period of one year.

Date: 12-08-2014
RBI/2013-14/172 A.P. (DIR Series) Circular No.20
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

Date: 12-08-2014
Customs Notification No 70/2014 (NT)
To notify the rate of interest to be paid on refund of Pre-deposit made under Section - 129E of the Customs Act, 1962

Date: 12-08-2014
Central Excise Notification No 24/2014 CE (NT)
To notify rate of interest to be paid on refund of Pre-deposit made under Section - 35F of the Central Excise Act, 1944

Date: 11-08-2014
Order
Appointment of Common Adjudicating Authority

Date: 11-08-2014
Order
Appointment of Common Adjudicating Authority


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