Types of importers 1
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There are three types of importers: 1. Established importers imported goods during a basic period and can apply for a quota certificate specifying the quantity and value of goods they can import, providing documentation of past imports. 2. Actual importers import goods for their own industrial use and must obtain a license through a sponsoring authority certifying their requirements. 3. Registered importers importing under export promotion schemes obtain licenses from the Chief Controller of Exports and Imports.
Types of importers 1
- 1. Types of Importers Types of Importers Established Importer Actual Importer Registered Importer
- 2. Established Importer • If the person imported goods of the class in which he is interested now during the basic period prescribed for such class, he is treated as an established importer. • An established importer can make an application to secure a Quota Certificate. The certificate specifies the quantity and value of goods which the importer can import. • For this purpose, he furnishes details of goods imported in any one year in basic period prescribed for the goods together with documentary evidence for the same, including a certificate from a CA in the prescribed form certifying the value of goods imported + freight and insurance paid in the selected year.
- 3. Actual Importer • If the importer is an actual user, that is, he wants to import goods for his own use in industrial manufacturing process he has to obtain license through the prescribed sponsoring authority. • The sponsoring authority certifies his requirements and recommends the grand of license. • In case of small industries having a capital of less than Rs. 5 lakhs, they have to apply for licenses through the Director of Industries of the state where the industry is located or some other authority expressly prescribed by the government.
- 4. Registered exporter • Registered exporter importing against exports made under a scheme of export promotion and others have to obtain license from the Chief Controller of Exports and Imports.