Lets explore on how to get Import Export License in India. The business of importing and exporting goods is timeless. In fact, many aspects of modern civilization are associated with trading and interacting between companies.
An export and import business is still lucrative today, and will continue to remain so as long as civilization survives. If you would like to get an export and import license in India, then Indolegal.com can help you in carrying out the entire procedure with ease. Forms such as Appendix- 18B and ANF2A are just a click away!
First of lets look at how to get import export license in India. This License is needed when you are dealing with any item that is not freely importable. In India, most goods are freely importable, but the Exim Policy of 2007 states certain goods and categories of products that are prohibited and some goods that can be conditionally imported. A typical export import business license would have two copies.
The first copy is used for opening a letter of credit and for effective remittance to a seller abroad. This copy is called the foreign exchange control copy.
The second copy, which is called the customs copy, is used to present to the customs authority for clearing the goods. Without this copy, the import or export would be considers unauthorized and you would be liable for penalty and confiscation of good.
An import export business license in India is called an IEC Code. It is a unique, 10-digit code issued by the government of India to registered Indian companies. The body that is responsible for providing this code is the Director General of Foreign Trade, or DGFT, which is part of the Ministry of Commerce. IEC is the short form of Importer Exporter Code, and the eligibility, legal provisions and other conditions for an IEC Code application is defined under the Foreign Trade (Regulation) Rules, 1993 stated by the Ministry of Commerce.
An application for granting an IEC Code number should be made by the organization’s Head Office or Registered Office, and to the nearest Regional Authority for the Directorate General Foreign Trade. The applicant must fill up the ANF2A form, which will also state some documents that need to be attached with it during submission. When there are BTP, EHTP or STPI units concerned, the DGFT regional office that has jurisdiction over the location of the STPI unit head office shall issue the IEC Code.
For each PAN number, there is only one IEC Code number issued. A proprietor who has more than one IEC Code number would have to surrender the extra ones to the Regional Office and cancel them.
The ANF2A form, which is short for Aayaat Niryaat Form, is available on Indolegal.com and you need not walk into the DGFT regional office. Apart from the ANF2A application form, you would also have to submit an Appendix- 18B form.
This form must be attested by the banker of the applicant, and must contain the applicant’s letterhead along with a passport size photograph. You would also need to provide an application fee of around Rs. 250. This fee has to be paid as a Demand Draft or Pay Order from a designated bank, drawn in the favour of Zonal Joint Director General of Foreign Trade. The amount can also be paid through Electronic Fund Transfer from a bank nominated by the DGFT.
The application for an import and export license must be complete in all the specified areas as per the relevant provisions given by the policies. The applicant also has to sign the application, according to paragraph 9.9 of the policy. If there is any change in the information given in the ANF2A form, the import and export license holder has to intimate it accordingly to the Regional authority that issued the IEC Code number in the first place.
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