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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: 12-07-2019
ECA Circular No. 26/2015-20
Action for recovery of Penalty, Pending Appeals/Reviews

Date: 12-07-2019
Notification No. 50/2019- Customs (N.T.)
Amendment to the Notification No. 63/1994-Customs (N.T) dated 21st November, 1994, by notifying the pipeline of M/s Indian Oil Corporation Limited connecting Barauni, Patna, Motihari, Nonea in India to Amlekhgunj in Nepal as additional route for Raxaul LCS

Date: 12-07-2019
No. 27/2019-Customs (ADD)
Seeks to extend levy of anti-dumping duty till 27.10.2019, on imports of " Paracetamol" originating in or exported from china PR, extended vide notification No. 39/2018 Customs (ADD), dated the 20th August, 2018, in pursuance of order of Hon'ble High Court of Gujarat in the matter of SCA 5278/2019.

Date: 11-07-2019
A.P. (DIR Series) Circular No.2
Exim Bank's Government of India supported Line of Credit of USD 24.50 million to the Government of the Republic of Senegal

Date: 11-07-2019
A.P. (DIR Series) Circular No.1
Exim Bank's Government of India supported Line of Credit of USD 100 million to the Government of Independent State of Papua New Guinea

Date: 09-07-2019
Trade Notice No. 25/2019-20
Import of 4 lakh MT of feed grade Maize (dent corn) under TRQ allowed

Date: 09-07-2019
Notification No. 49/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver - Reg

Date: 09-07-2019
Notification No. 28/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI-reg.

Date: 06-07-2019
Notification No. 02/2019-Central Excise
Seeks to further amend notification No. 11/2017-Central Excise dated 30th June 2017 so as to omit an entry with respect to chapter 24.

Date: 06-07-2019
Notification No. 03/2019-Central Excise
Seeks to increase the basic excise duty on specified goods in chapter 24 under section 5A of the Central Excise Act 1944.



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