HOW TO IMPORT
- Introduction
- Application for IEC Number
- Process of Online Application
- Guidelines for filling up IEC Form
- Duplicate Copy of IEC No
- Surrender of IEC No
Introduction
Registration of importer is a mandatory for import of goods. Custom will not allow to import goods without IEC. The Customs will not allow clearance of goods unless the importer has obtained IEC Number from issuing authority. IEC number or Importers Exporters Code is issued by the DGFT in India. IEC can apply online.
Process of Online Application
Online application process helpful for the new applicants. Online form has been created to assure feeding of all the required information by prompting user wherever a field is left blank. In online process the application has to submit scanned copies of PAN
Duplicate Copy of IEC No.
IEC holders can apply for duplicate IEC. Duplicate copy of IEC Number is issued to those who has lost their original IEC number. They can apply for duplicate IEC direct by online. Importers are required to submit an affidavit and a fee of Rs.200 to obtain a duplicate copy of IEC Number.
Surrender of IEC No.
Any importer who doesn’t want to continue his import business may surrender the IEC number to the issuing authority in any time. The issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities.
Legal considerations
This is difficult to trading with other country because it is long process for import or export the product.Trading with overseas supplier is totally different from trading in India, particularly when dealing with a country outside Asia, so an importer should consist of the following factor before import.
Category of Importer
1. Actual Customers- A genuine customer applies for and receives a license to import of any item for self use rather than for business or trade plan.
2. Registered exporters- All exporters who registered for the import export are listed in dgft. Registered exporters defined as those who have a genuine registration certificate issued by an export government promotion council, goods board or other registered authority designated by the Government for purposes of export-promotion.
Others.
The two types of actual user license are:
- General Licenses - A general licenses use to import and export the commodities. license can be used for the imports of goods from all countries
2. Specific - Specific license only for one country. Use this licenses one country a particular country.
IMPORT-EXPORT LICENSES
Custom Inspection
Any violation or any port documents problem in the import license is usually scanned by the custom officials of the custom department. Customer inspector and other custom officers have rights by government to inspect and figure out the goods to be imported. This is their job to determine whether imports conform to the description in the import License or not.
Ministry of Commerce and Industry
The Ministry of Commerce and Industry is the nodal authority who handle the all violation and for formulating and implementing the foreign trade policy in matter related to Import.
Directorate General of Foreign Trade (DGFT)
DGFT is of India is caretaker for the formulation of guidelines and principles for importers as well as exporters of country. They help the exporters out of country when they face any difficulty in foreign then they take help from Indian Embassy.
Central Board of Excises Customs (CBEC)
The Central Board of Excises Customs under Ministry of Finance is the take caring authority to handle custom duty related things. CBEC regularly publishes the "Indian Customs Tariff Guide that provides all types of knowledge on custom duty rules and regulation in India.
Objectives of Custom Duties
Regulating the amount of import in India in order to cover and safe the domestic market.
Protecting Indian Industry from undue competition.
