other current Info and Documents.pptx - Google Slides.pdf
- 4. Seven types of company registrations in India 1.Private Limited Company 2.Public Limited Company 3.Partnerships Company 4.Limited Liability Partnership 5.One Person Company 6.Sole Proprietorship 7.Section 8 Company
- 5. Obtaining Importer-Exporter Code (IEC) • The Importer -Exporter Code (IEC) is a key business identification number which is mandatory for Exports or Imports. • No person shall make any import or export except under an IEC granted by the DGFT. • In case of import or export of services or technology, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies. • The nature of the firm obtaining an IEC may be any of the follows- "Proprietorship, Partnership, LLP, Limited Company, Trust, HUF and Society." Consequent upon introduction of GST, IEC number is the same as the PAN of the firm. The IEC would be separately issued by DGFT.
- 6. Registration cum membership certificate (RCMC) •An exporter desiring to obtain an RCMC has to file an application in Form ANF 2C with the concerned Export Promotional Council (EPC) and declare his mainstream business in the application. •Common Digital Platform (DGFT e-RCMC module) for Issuance of RCMC/RC had been developed, which would be single-point access for all exporters & importers. •There are 27 Export promotion councils and nine commodities boards in India. Export Promotional Councils (EPC) and Commodities board in India are the authorities for issuing the RCMC.
- 7. ITC-HS Code •ITC-HS Codes or better known as Indian Trade Classification based on Harmonized System of Coding was adopted in India for import-export operations. •Indian custom uses an eight digit ITC-HS Codes to suit the national trade requirements. •HS classification Code list • First 2 digits from the left side (76) - Chapter • 4 digits from the left side (7606) - Heading • 6 digits from the left side (760692) – Sub Heading • 8 digits from the left side (76069299) – Regional Tariff
- 8. Import Policy •The Indian Trade Classification (ITC)-Harmonized System (HS) classifies goods into three categories: • Restricted • Canalized • Prohibited Goods not specified in the above mentioned categories can be freely imported without any restriction, if the importer has obtained a valid IEC. There is no need to obtain any import license or permission to import such goods. Most of the goods can be freely imported in India.
- 9. Export Policy Just like imports, goods can be exported freely if they are not mentioned in the classification of ITC (HS). Below follows the classification of goods for export: • Restricted • Prohibited • State Trading Enterprise
- 10. ORGANISATIONS ASSOCIATED WITH EXPORT PROMOTION 1. DGFT (Directorate General of Foreign Trade) • Most significant roles and functions of DGFT • Implementation of EXIM Policy / Foreign Trade Policy • Implement of Foreign Trade Procedures Issues IEC Code to Exporters and Importers • Document and Maintain Classifications ITC-HS Code • Provides Platform for updating e-BRC • Provides Information about the Export Policy Schedule • Grant Export Licenses to Restricted Items Promote Trade with Foreign Borders • Regulate Transit of Goods • Other activities related to Foreign Trade & Commerce
- 11. 2. EXPORT PROMOTION COUNCILS: The Export Promotion Councils (EPCs) are organisations of exporters, registered as non-profit organizations under the Companies Act/ Societies Registration Act. Roles and functions of these Councils are guided by the Foreign Trade Policy 2023, which also recognizes them as registering authorities for exporters. At present, there are 27 Export promotion councils and 9 commodities boards, as mentioned below, under the Department of Commerce
- 12. 3. ECGC Limited ECGC Ltd. (Formerly known as Export Credit Guarantee Corporation of India Ltd.) wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing credit risk insurance and related services for exports.
- 13. 4. India Trade Promotion Organization (ITPO) • India Trade Promotion Organisation (ITPO) is the premier trade promotion agency of India, provides a broad spectrum of services to trade and industry and acts as a catalyst for growth of India’s trade. The main corporate objectives of ITPO are: • To promote external and domestic trade of India in cost effective manner by organizing and participating in international trade fairs in India and abroad; • organizing buyer-seller meets and contact promotion programmes abroad; conducting overseas market surveys, exchanging and contact promotion programmes abroad; • conducting overseas market surveys, exchanging and coordinating visits of business delegations, and undertake need based research to facilitate trade in specific sectors/markets; • To support and assist small and medium enterprises to access markets both in India and abroad; • To disseminate trade information and facilitate E-commerce/trade; • To develop quality physical infrastructure, services and management so as to enable holding of trade promotion events such as conventions and trade exhibitions of international standard; and • To enlist the involvement and support of the State Governments, other government trade promotion agencies, trade and industry associations in trade promotion of India’s external and domestic trade.
- 14. 5. Export Inspection Council of India The Export Inspection Council (EIC) is the official export –certification body of India which ensures quality and safety of products exported from India. EIC was set up by the Government of India under Section 3 of the Export (Quality Control and Inspection) Act, 1963 to ensure sound development of export trade of India through quality control and inspection and matters connected therewith. The role of EIC is to ensure that products notified under the Export (Quality Control and Inspection) Act 1963 are meeting the requirements of the importing countries in respect of their quality and safety.
- 15. 6.Directorate General of Commercial Intelligence and Statistics (DGCI&S): (DGCI&S), Kolkata, under the Ministry of Commerce, Government of India, is the pioneer official organization for collection, compilation and dissemination of India’s Trade Statistics and Commercial Information.
- 16. Other Institutions • Bureau of Indian Standards • State Trading Corporation of India Limited (STC) • PEC Limited • MMTC (Minerals and Metals Trading Corporation) Limited • Indian Institute of Packaging • Footwear Design & Development Institute (FDDI) • Plant Quarantine Information System (PQS) • Animal Quarantine & Certification Services (AQCS) • SPECIAL ECONOMIC ZONES (SEZs) • EXPORT ORIENTED UNITS (EOUs)
- 17. Sample of Airway Bill
- 18. Sample of Tax Invoice
- 19. Sample of Shipping Bill Part 1
- 20. Sample of Shipping Bill Part 2
- 21. Sample of Shipping Bill Part 3
- 22. Sample of Shipping Bill Part 4