Registration of Exporters :
REGISTRATION WITH RESERVE BANK OF INDIA NO MORE REQUIRED
Prior to 1.1.1997 it was compulsory for every exporter to obtain an exporters' code number from the Reserve Bank of India before engaging in export. This has since been dispensed with and registration with the licensing authorities is sufficient before commencing export or import.
REGISTRATION WITH REGIONAL LICENSING AUTHORITIES (OBTAINING IEC NUMBER)
The Customs Authorities will not allow you to import or export goods
into or from India unless you hold a valid IEC number. However, if you are exporting goods to Nepal or Myanmar through Indo-Myanmar Border areas, you are not required to obtain IEC number provided the CIF value of a single consignment does not exceed Indian Rs. 25000. For obtaining lEC number you should apply to Regional Licensing Authority in duplicate in the prescribed form. Before applying for IEC number it is necessary to open a bank account in the name of your company/firm with any commercial bank authorised to deal in foreign exchange. The duly signed application form should be supported by the following documents.
I. Bank Receipt (in duplicate) / Demand Draft for payment of the fee of Rs. 1000
2. Certificate from the Banker of the applicant firm
3. Two copies of Passport size photographs of the applicant duly
attested by the banker to the applicants
4. A copy of Permanent Account Number issued by Income Tax
Authorities duty attested .by the applicant
5. In case the application is signed by an authorised signatory, a copy of the letter of legal authority may be furnished.
6. If there is any non-resident interest in the firm and non-resident
investment is to be made with repatriation benefits, full particulars
thereof with photocopy of RBI approval must be submitted. If
there is non-resident investment without repatriation benefits, a
simple declaration indicating whether it is held with the general!
specific permission of the RBI on the letter head of the firm
should be furnished. In case of specific approval, a copy may also
be furnished. Indian Companies issuing shares to foreign nationals/
NRIs under automatic route, 100% scheme or 24/40% scheme are
not required to obtain prior approval of RBI.
7. Declaration by the applicant that the proprietor/partners/directors
as the case may be of the applicant firm/company, are not
associated as proprietor/partners/directors in any other firm/
company which has been caution-listed by the RBI. Where the
applicant declares that they are associated with a firm/company
caution listed by the RBI they will be allotted IE Code No. but
with an additional condition that they can export only with RBIs
prior approval and they should approach RBI for the purpose.
8. Exporter's Profile
The Regional Licensing Authority concerned will on merits
grant an IEC number to the applicant. The number should normally
be given within 3 working days provided the application is complete
in all respects and is accompanied by the prescribed documents.
An IEC number allotted to an applicant shall be valid for all
its branches/divisions/units/factories as indicated on the IEC
REGISTRATION WITH EXPORT PROMOTION COUNCILS
In order to enable you to obtain benefits/concession under the export-
import policy, you are required to register yourself with an appropriate
export promotion agency by obtaining registration-cum-membership
certificate (RCMC). For this purpose you should apply in the prescribed
form to the Export Promotion Council relating to your main line of business.
However, a status holder has the option to obtain RCMC from FIEO. The service exporters (except software service exporters) shall be required to obtain RCMC from FIEO. In addition an exporter has the option to obtain an RCMC from FlEO or any other EPC if the products exported by him relate to those EPCs. If the export product is that it is not covered by any EPC, RCMC in respect thereof may be issued by FlEO.
An application for registration should be accompanied by a self certified
copy of the Importer-Exporter Code Number issued by the Regional Licensing Authority concerned and bank certificate in support of the applicant's financial soundness. If the applicant is already registered with any other EPC, a copy of RCMC should be furnished. In case an exporter desires to get registration as a manufacturer exporter, he should furnish evidence to that effect. In the case of a manufacturer exporter the licensing authority may seek copy of registration with SSI/any other sponsoring authority in addition to the application in the prescribed form. Membership fee should be paid in the form of cheque/draft after ascertaining the amount from the EPC concerned.
If the application for registration is granted, the EPC or FlEO shall issue the
RCMC indicating the status of the applicant as merchant exporter or
manufacturer exporter. The RCMC shall be valid for five years ending 31st
March of the licensing year. The certificate shall be deemed to be valid
from I st April of the licensing year in which it was issued.
REGISTRATION WITH SALES TAX AUTHORITIES
Goods which are to be shipped out of the country for export are eligible for exemption from both Sales Tax and Central Sales Tax. For this purpose, you should get yourself registered with the Sales Tax Authority of your State after following the procedure prescribed under the Sales Tax Act applicable to your State.
REGISTRATION WITH EXCISE AUTHORITIES
Goods meant for exports are exempt from Excise duty. For this purpose
the manufacturer and merchant exporters have two options. Either they can
deposit excise duty at the time of clearance from factory and later on take
refund or can establish a bond with maritime Collector of Central Excise.
A running bond account is maintained which is credited after proof of
exports including Bill of Lading, Shipping Bill and AR-4 are submitted
with Excise Authorities.
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