IMPORT/EXPORT LICENSE

IMPORT/EXPORT LICENSE

For commencing an import-export business in India, you need to obtain the Import/Export licence online. Registration for this licence is mandatory, if you are planning to start your own business of importing or exporting goods. If the import/export is related to services or latest technologies, in that case obtaining a Import/Export licence becomes mandatory. The limited circumstances are concerned with the national security & that’s why, they are restricted by the Government of India such as managing atomic weapons, dealing with nuclear weapons, guns, programmed firearms etc

Basically import-export code is a unique 10 digit number, which is issued to any person or company by the Directorate General of Foreign Trade (DGFT). For carrying out the business smoothly in India, the import/export licence is very important.

How to obtain import/export license online in India ?

In order to obtain the licence, first you have to know that you are eligible for obtaining an import/export licence or not. By filing online application with the Directorate General of Foreign Trade (DGFT), you can obtain your licence. After the completion of procedure, the licence of import/export will be provided to the applicant under 15-20 working days.

The steps which have to be taken for the registration are mentioned below :-

• In the first step, you have to file an application form must be prepared in the prescribed format of Aayaat Niryaat Form No. 2A and submit it to the Regional office of the DGFT.
• Submit the required documents – ID proof, address proof & bank details etc.
• After following all the above steps, now you have to file the application with DGFT via Digital Signature Certificate (DSC). Then, you have to pay the fees for obtaining the registration of import-export licence.
• In this step, you will receive the import/export registration code from of soft copy, after the approval of the application.

Required documents for registration of import/export licence.

• Copy of PAN card
• Copy of ID proof
• Copy of cancel cheque of the current bank account.
• NOC along with the related agreement , in case of rented property.
• Any utility bill of the premises, such as electricity bill, phone bill, etc.

Why do you need Import - Export licence ?

• Custom authorities clear the goods only when the import/export code is available there, as it contains all the informations.
• DGFT and export promotion council imposed on import & export, so organization can get various types of advantages from the customs
• For transferring or sending money to abroad through banks, an import/export licence is required for verification.