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Import License and IEC Code Number.




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.

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What is New?

Date: 01-12-2022
Notification No. 101/2022 - Customs (N.T.)
Exchange rate Notification No. 101/2022-Cus (NT) dated 01.12.2022-reg

Date: 01-12-2022
Notification No. 40/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude.

Date: 01-12-2022
Notification No. 41/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel.

Date: 01-12-2022
NOTIFICATION No. 04/2022-Central Excise (N.T.)
Appointment of the Commissioner of Central Excise and Service Tax (Appeals) as Central Excise officer for the entire territorial jurisdiction of the Principal Chief Commissioner/ Chief Commissioner of Central Excise and Service Tax for the purpose of passing Orders-in-Appeal for the CX & ST appeals filed after 30.06.2017-reg.

Date: 30-11-2022
Notification No. 100/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 29-11-2022
No.98 /2022-Customs (N.T.)
Amendment of notification no. 47/2022–Customs (N.T.), dated the 31st May, 2022

Date: 29-11-2022
NOTIFICATION No. 99/2022-Customs (N.T.)
Amendment of notification number 48/2022-Customs (N.T.) dated the 31st May, 2022

Date: 25-11-2022
NOTIFICATION No. 61/2022-Customs
Seeks to amend certain specific FTA/PTA notifications.

Date: 23-11-2022
NOTIFICATIONNo. 23/2022 – Central Tax
Seeks to empower the Competition Commission of India to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022.

Date: 23-11-2022
NOTIFICATION No. 24/2022 – Central Tax
Seeks to make fourth amendment (2022) to CGST Rules with effect from 01.12.2022.



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