In India, export business needs to obtain some licenses formalities. You can export any goods, apart from which are restricted by Indian governments. First you need to fulfill some licenses formalities:
How to export goods from India:
1. IEC Registration: IEC stands for Importer Exporter Code. It is a mandatory document for both import and export business in India. It is a 10 digit code which is issued by Directorate General of Foreign Trade, it is easy to get. You can apply online at www.dgft.gov.in. IEC represent an individual export and import of a firm/company.
There are some documents you need to file for IEC registration:
- Birth certificate copy.
- Fee DD in favour of zonal Directorate general of Foreign Trade.
- Bank certificate copy.
- Address proof (rent agreement/sale deed etc.)
- PAN card copy.
2. Authorized Dealer code: After getting IEC code, you need to obtain AD Code. AD Code is a 14 digit code which is issued by bank. It is mandatory for export business. After obtaining AD code, you need to register it with custom.
There are following documents you need to register AD Code with custom:
- IEC copy.
- AD code letter copy which is issued by bank.(Please change the name of port as required.)
- PAN copy.
- IT returns copy.
- Stamp pad blank letter head.
- Vat registration copy.
- Balance sheet.
3. Phytosanitory certificate: Phytosanitory certificate is mandatory for exporting goods. It is used to attest the consignments which are related to plant or plant products. For example: products like Spices, Rice, Maggi noodles, Chloette, Wheat Floor etc.
4. Find overseas buyer: Finding overseas buyer is a major task for export business. For overseas buyer, you need to analyze the global market and its demand of import. Every global market have different types of goods demand. You can collect import-export data from embassies. After getting data, you need to search overseas buyer for your products.
You can create a website for your export business. After creating website, you can register on B2B or e-commerce which helps you to find overseas buyer in global market.
5. Drawback Schemes: The governments of India started some drawback schemes for export business promotion.
- Duty Entitlement Pass Book(DEPB): DEPB is a scheme of India government which provides incentive to Indian exporter. It is launched by Indian government on 1/04/1997. DEPB scheme is consisted of (a) Pre-export DEPB and (b) Post-export DEPB. The pre-export DEPB is terminated by Indian government on 1/04/2000. Under the post-export DEPB scheme which is issued after export, the exporter is given a duty entitlement Pass Book Scheme at a per-determined credit on the FOB value. The DEPB rates allow import of any items except the items which are restricted for import. For example: Items like as Gold watches, Gold pen, Gold nibs etc. DEPB Scheme is issued only on post-export basis and pre-export DEPB Scheme has been discontinued.
The DEPB rates are applied on FOB value or value cap whichever is lower. For example: If FOB value is 900 per piece and the value cap is 700 per piece. The benefit of DEPB schemes is available on the export products having extraneous material up to 8% by material up to 5% shall be ignored and the DEPB rate as notified for that export product is to be allowed.
- Export Promotion Capital Goods (EPCG) scheme: It is a scheme of Indian government which allows import of capital goods including spare parts for per-production. This scheme is implemented for promotion of export business.
At portlogy, we will help you to obtain licenses formalities for your import export business. We also provide following services like end-to-end transportation, custom clearance, temporary warehouse arrangements, Air and Sea forwarding etc. For more detail about import export, you can contact us at: 9289700700