REGISTRATION AS A BUSINESS ENTITY:-
No additional registration formalities are required for a domestic unit if it wants to enter exports. A new export unit can be started as a proprietorship concern, a partnership concern or as a company with limited liability and the formalities remain the same as for domestic units.

IEC NUMBER:-
Every individual, firm or a company seeking to export or import is required to obtain a code number, called Import Export Code (IEC) number, from the office of Regional licensing authority of DGFT. This number is required for communication with any office related to export and import.

REGISTRATION-CUM-MEMBERSHIP CERTIFICATE (RCMC)
RCMC means the certificate of registration and membership granted by an
Export Promotion Council/ Commodity Board/ Development Authority or other competent authority as prescribed by Foreign Trade Policy to an exporting unit.

Any person, applying for (i) a licence/ authorisation/ certificate/permission to import/ export, or (ii) any other benefit or concession under Foreign Trade Policy is required to furnish Registration-cum-Membership Certificate (RCMC). RCMC is also required for executing a bond before Central Excise authorities, which exempts exporters to furnish bank guarantees.

Export Promotion Councils have been set up by various ministries of the Central Government to promote and develop the exports of particular group of products, projects and services. For certain group of products, which are sensitive from the viewpoint of national consumption, there are commodity boards instead. Thus while we have export promotion councils for apparel, leather, software, chemicals, engineering goods etc., we have commodity boards for tea, coffee, jute etc.

REGISTRATION WITH SALES TAX OFFICE
Goods exported from India are exempt from central and state sales tax. However, for getting exemption of such taxes or claming their refund, wherever permissible under Foreign Trade Policy, the exporting unit should be registered with sales tax authorities.


REGISTRATION WITH EXCISE DEPTT
If the exporting unit is engaged in manufacture of the product, it needs registration with excise department and the formalities remain the same as for any domestic unit. This registration is required for claiming refund of excise duties under various schemes of the government.

Tradeindia Editor

(Tradeindia Expert)

Tradeindia.com

Tradeindia.com
New Delhi, India