Powered by InfodriveIndia.com

  • >
  • >
  • >
  • IEC Code Number required for Import Business and Importing Goods from Overseas Market.
  • Import License and IEC Code Number.


    MODES OF INTERNATIONAL TRADE

    Introduction

    While the majority of the goods are freely importable, the Exim Policy (2007) of India prohibits import of certain categories of products as well as conditional import of certain items. In such a situation it becomes important for the importer to have an import license issued by the issuing authorities of the Government of India.

    Import License Issuing Authority
    In India, Import License is issued by the Director General of Foreign Trade. DGFT Delhi office is situated in Udyog Bhawan, New Delhi 110011.

    Validity of Import License

    Import Licenses are valid for 24 months for capital goods and 18 months for raw materials components, consumable and spares, with the license term renewable.

    Sample of Import License

    A typical sample of import license consists of two copies-
    ForeignExchange Control Copy: To be utilised for effecting remittance to foreign seller or for opening letter of credit
    Customs Copy: To be utilised for presenting to Customs authority enabling them to clear the goods. In the absence of custom copy, import will be declared as an unauthorised import, liable for confiscation and or penalty.

    Categories of Import

    All types of imported goods come under the following four categories:

    • Freely importable items: Most capital goods fall into this category. Any product declared as Freely Importable Item does not require import licenses.

    • Licensed Imports: There are number of goods, which can only be importer under an import license. This category includes several broad product groups that are classified as consumer goods; precious and semi-precious stones; products related to safety and security; seeds, plants and animals; some insecticides, pharmaceuticals and chemicals; some electronically items; several items reserved for production by the small-scale sector; and 17 miscellaneous or special-category items.

    • Canalised Items: There are certain canalised  items that can only be importer in India through specified channels or government agencies. These include petroleum products (to be imported only by the Indian Oil Corporation); nitrogenous phosphatic, potassic and complex chemical fertilizers (by the Minerals and Metals Trading Corporation) vitamin- A drugs (by the State Trading Corporation); oils and seeds (by the State Trading Corporation and Hindustan Vegetable Oils); and cereals (by the Food Corporation of India). 

    • Prohibited items: Only four items-tallow fat, animal rennet, wild animals and unprocessed ivory-are completely banned from importation.

    Category of Importer
    On the basis of product to be imported and its target buyer, importers categories are divided into three groups for the purpose of obtaining import licensing:

    1. Actual Users- An actual user applies for and receives a license to import of any item for personal use rather than for business or trade purpose.

    2. Registered exporters; defined as those who have a valid registration certificate issued by an export promotion council, commodity board or other registered authority designated by the Government for purposes of export-promotion.

    3. Others.

    The two types of actual user license are:

    1. General Licenses : This license can be used for the imports of goods from all countries, except those countries from which imports are prohibited;

    2. Specific Licenses: This license can only be used for imports from a specific country.

    Custom Inspection

    Any violation in the import license is usually scanned by the custom officials of the custom department. Customer inspector and other custom officials have authority to inspect and evaluate the goods to be imported. It’s a part of their job to determine whether imports conform to the description in the import License or not. Custom official even have right to charge fines and penalties if any violation in the import license is found to be done by the importer.

    Table of  Contents



    Enquiry Form

    Fields marked with an asterisk * are required.

     




    What is New?

    Date: 26-08-2015
    DGFT Public Notice No. 30/2015-2020
    Amendment in paragraph 3.06 and 3.08 of Handbook of Procedures of Foreign Trade Policy(FTP) 2015-20.

    Date: 26-08-2015
    DGFT Public Notice No. 31/2015-2020
    Amendments in paragraph (7) of Appendix-6B of Appendices and Aayat Niryat Forms of FTP 2015-2020.

    Date: 25-08-2015
    Customs Notification No 82/2015 (NT)
    Rate of exchange of conversion of the foreign currency with effect from 26th August, 2015

    Date: 24-08-2015
    DGFT Notification No 18/ 2015-2020
    Export Policy of Onions- increase in Minimum Export Price (MEP).

    Date: 24-08-2015
    Notification No. 45/2015-Customs (ADD)
    Seeks to impose anti-dumping duty on the imports of Phosphoric Acid of all grades and all concentration (excluding Agriculture or Fertilizer grade), originating in or exported from Korea RP for a period of five years

    Date: 21-08-2015
    RBI/2015-16/157 A.P. (DIR Series) Circular No. 9
    Foreign Direct Investment – Reporting under FDI Scheme on the e-Biz platform

    Date: 20-08-2015
    Customs Notification No 81/2015 (NT)
    Rate of exchange of conversion of the foreign currency with effect from 21st August, 2015

    Date: 19-08-2015
    Customs Circular No 21/2015
    Regarding Authorized Economic Operator (AEO) Programme

    Date: 18-08-2015
    Notification No. 42/2015-Customs (ADD)
    Seeks to impose anti-dumping duty on the imports of Caustic Soda, originating in or exported from China PR and Korea RP for a period of five years.

    Date: 18-08-2015
    Notification No. 43/2015-Customs (ADD)
    Seeks to extend notification No, 82/2011- Customs dated 25th August, 2011 for a further period of one year.



    Exim Guru Copyright © 1999-2015 Exim Guru. All Rights Reserved.
    The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
    Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory. RSS

    EximGuru.com

    C/o Infodrive India
    E-2, 3rd Floor, Kalkaji Main Road
    New Delhi - 110019, India
    Phone : 011 - 40703001