Every business has rules and regulations for import and export goods and services from India. IE code registration is issued by the directorate general of foreign trade (DGFT), ministry of commerce and industries, Government of India. IE code application must be made to the directorate General foreign trade along with necessary supporting documents.
Import Export Code Registration
IE Code registration is very important to export and import for the business manufacturing and industries in the company. IE code registration is lifetime registration which is permanent IE CODE. The importer or exporter does not require to file any filings or follow any other compliance requirement like annual filing.
RCMC Registration can be easily applied for and obtain RCMC registration. RCMC Registration is a certificate that validates an exporter dealing with products and services registered with the company that is authorized by the Indian government.
IE CODE APPLICATION
Import & export code (IE CODE) business code for import and export from India. Today, business in India is easy with strong policies and cloud computing technology and a strong logistics network. Any Business in India that has products and services need import and export code (IE CODE) becomes critical in terms of doing business. If the import is not having GST and IE code – goods will be stuck in customs.
VALIDITY OF IE CODE
IE Code registration is lifetime validity which is permanent registration. Once the business is registered is completion is done and it is a lifetime for imports and exports in the business. IE code Registration is one -time and requires no additional compliance, it is recommended by all companies and minister of commerce to obtain IE Code.
DOCUMENTS REQUIRED FOR IE APPLICATION
The Documents that are mandatory for the IE Code registration application in India. They are:
- partnership firm
- private limited company
- Society or Trust
IE APPLICATION PROCEDURE:
Once all the documents are arranged and available, the application can initiate the IE code application process on the DGFT website:
- Pan India on the login page and mention your valid email and mobile number
- Complete the application and upload the documents required.
- The application will Process on the online payment and need to attach the digital signature
IE code application is usually issued with 5-7 working days and no discrepancy is found in the IE code application.
Procedure for Obtaining Import Export Code
IE Code is the 10-digit number issued by the Director-General of Foreign Trade (DGFT). Procedure for IE code is processed by the customs and exports in the system on the various process on being analyzed in the systematic process for the government for defense and national security systems.
Address proof and Bank proof are the procedure contains provisions relating to an application for IEC. Exporters/Importers shall file an online application in the form of ANF 2A. Original documents related to company and business in the system need to be analyzed for the proof verification system.
Bank proof needs to be submitted for the system and submission with the application. Pre-printed cheque of the savings accounts in the Bank. And application fee of INR-500 is to be paid at the time of filing of an application.
Registration-Cum-Membership-certificate (RCMC) is certified by India that validation of the Exporter dealing with products and services along the registered company is being authorized by the Indian Government. The application would be submitted to the Export council of business.
Certificate of Registration as an Exporter of Spices (CRES) that is issued by the Spices Board will be considered as RCMC and the Merchant exporter and the Manufacturing exporter. On opting the Manufacturing exporter will be a systematic process
RCMC and Documents are required in the systematic process are the concerned authorities for issuing the certification. These institutions have been authorized by the Central Government to issue no other RCMC will be applied with any other Export Promotional Councils (EPC). certified copy of the certificate that is issued by the Register of Companies concerning RCMC company in India.
RCMC is valid form April of the licensing year and it valid for five years that ends on 31st March of the licensing year.
Shipping bill and custom duty:
Every Import/Exporter is willing goods and services to file the shipping bill. The shipping bill for the customs and IE appropriate type of shipping bill is required to be filled the order to get customs clearance of the export shipment.
There are types of shipping bills in the Import/Export in the customs duty and self-assessment. They are Duty-free shipping bill, drawback shipping bill, Ex-bond shipping bill, coastal shipping bill, are the types of shipping bill in India.
Custom Duty of self-assessment:
They are the custom duty of self-assessment in the IE code and RCMC and impose the tax payment and regulation of the system. DGFT has the file the self-assessment has been listed below:
- Manual and online self-assessment
- Verification of self-assessment