WHAT WE DO
We can assist you in identifying the feasibility of getting a license, planning, documentation, application preparations, representation and coordination with DGFT and various other ministries and departments, till you finally get the approval/license.
Just write to “consultants@amrutamglobal.com” and our team will get back to you.
01.
Documentation
To import or export goods into India, the following mandatory documents are prescribed as per the Foreign Trade Act, 1992. Recently, to improve ease of doing business, the Government has reduced the number of documents required for import or export. The reduction in documents was notified through notification number: 114 (RE-2013)/2009-2014, coming into effect from 1st April 2015.
Commercial / Regulatory Documents
Commercial sets of documents are mainly used for Commerce. In other words, these are documents normally exchanged between buyer and seller. Regulatory documents are required in dealing with various regulatory authorities such as customs, RBI, Excise, Licencing authorities Inspection and other Export Promotion bodies for availing incentives, etc.
Documents are important for the following reasons
as evidence of shipment and title of goods;
for obtaining payment;
to provide a specific and complete description of the goods;
for assessment of correct Duty for clearance purpose;
for obtaining Export Licences;
for obtaining export finance;
for completing Pre-shipment Inspection;
for claiming export benefits like Duty Drawback, etc.
Documents are categorized into two categories, namely Commercial Documents and Regulatory Documents.
| Commercial | Regulatory |
|---|---|
| Commercial Invoice | Shipping Bill |
| Inspection Certificate | ARE1 from (Excise) |
| Insurance Certificate | RBI Declaration Forms (GR/PP) |
| Bill of Lading / AWB | Application for remittance of currency |
| Certificate of Origin | Various Licences |
| Bill of Exchange | Bill of Entry |
| Shipment Advice | |
| Packing List |
Documents required for Customs Clearance
The customs clearance process typically involves preparing documents that may be submitted electronically or physically with the consignment. This helps concerned authorities to calculate taxes and duties that will be levied on the cargo. The type of documents required for customs clearance usually depends on the type of goods being shipped. It may also vary depending on the country of origin and the destination of the cargo. However, as a thumb rule, there are a set of general documents that most businesses need to comply with when importing or exporting goods.
Exports Customs Clearance
=> Proforma Invoice
=> Customs Packing List
=> Country of Origin or COO Certificate
=> Commercial Invoice
=> Shipping Bill
=> Bill of Lading or Airway Bill
=> Bill of Sight
=> Letter of Credit
=> Bill of Exchange
=> Export License
=> Warehouse Receipt
=> Health Certificates
Imports Customs Clearance
=> Bill of Entry
=> Commercial Invoice
=> Bill of Lading or Airway Bill
=> Import License
=> Certificate of Insurance
=> Letter of Credit or LC
=> Technical Write-up or Literature (Only required for specific goods)
=> Industrial License (for specific goods)
=> Test Report (If any)
=> RCMC Registration cum Membership Certificate
=> GATT/DGFT declaration
=> DEEC/DEPB/ECGC License for duty benefits
Get Help from us for Documentation
We at Amrutam Consultants can help you in preparing documentation and coordination with DGFT and various other ministries and departments, till your trade cycle is complete. We prepare all the types of documentation like Import Documentation, Export Documentation, Export Sales Contract, Pre-shipment Documentation and Post-shipment Documentation.
Just write to “consultants@amrutamglobal.com” and our team will get back to you.
02.
Import Export Code
Importer Exporter Code (IEC) is a unique 10-digit code issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce, Government of India. To import or export in India, IEC is mandatory without which, no person or entity shall make any Import or Export. However, Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture are exempt from obtaining IEC.
We at Amrutam Consultants, help the entities to obtain new registration, amendment/ modification of existing registrations, etc. Our team is well versed with IEC, Foreign Trade Policy, etc. In case, you need these services, we would be glad to assist you. Please write to “consultants@amrutamglobal.com”
What are the benefits of the Import Export Code?
Unlike other tax registrations, the importer or exporter does not require to fulfill any specific compliance requirement such as Annual Filings or return filings. The code possesses no need for compliance after registration.
Obtaining the code is the license for importing and exporting goods and services for business purposes. It is a chief legal license that makes cross-border transactions easy and legal.
IEC helps to eradicate illegal transportation or illegal exports and imports. The centralized registration helps the officials to supervise and better administer the transactions undertaken as a part of cross-border business. The accountability of prohibited or restricted transactions is apportioned well.
03.
Registration-cum-Membership Certificate (RCMC) Registration
What is RCMC?
A Registration Cum Membership Certificate (RCMC) is a certificate issued by the Federation of Indian Export Organizations (FIEO) and/or one of the various Export Promotion Councils (EPC) or Commodity Boards– primarily agencies and organizations that work towards the promotion and development of export businesses and are authorized to do so by the Government of India. It is a membership certificate issued for five years and signifies that the holder of the certificate is registered with FIEO/the concerned EPC or Commodity Board. Some of the popular EPCs include APEDA, SEPC, GJEPC, Tea Board, EEPC, and Spices Board. The applicant of the RCMC has to declare his or her primary line of business while applying for it, and possession of an RCMC entails an exporter to all the benefits and advantages of the respective parent organization.
Why is RCMC required?
As an exporter, you have to apply for an RCMC certificate if you are,
Seeking authorization to export (or import) any restricted item
Planning to claim various benefits under the Foreign Trade Policy
Looking for benefits offered by the Customs and Central excise authorities
Note that an RCMC is applicable even when you plan to export two or more products that fall under different categories and hence different EPCs.
We at Amrutam Consultants, help the entities to obtain new RCMC registration, amendment/ modification of existing registrations, etc. Our team is well versed with RCMC, Foreign Trade Policy, etc. In case, you need these services, we would be glad to assist you. Please write to “consultants@amrutamglobal.com”
04.
Communication Agent
Communications agents write and distribute content to promote an organization’s brand, activities, or products. They act as a liaison between the organization and the buyer to ensure that the brand remains top of mind.
Why is RCMC required?
Collaborate with management to develop and implement an effective communications strategy based on target buyers.
Communication agents improve trust and relationship between Company and the buyer.
Write, edit, and distribute content, website content, Consultants@amrutamglobal.com writing and other marketing material that communicates the organization’s activities, products and/or services with the target buyer.
Develop, support and promote company goals, including message development, social media content creation and media outreach.
Identify target audiences and create strategies to effectively engage them
Ensure digital marketing content aligns with our brand’s identity and message, and assist with marketing campaigns as needed
Work closely with leaders and executives to develop and strengthen engagement activities.
Privacy Policy
We at Amrutam Consultants, will not, in any circumstances, share your personal information with other individuals or organizations without your permission, including public organizations, corporations, or individuals, except when applicable by law. We do not sell, communicate or divulge your information to any mailing lists. We will not, in any circumstances, share your personal information with other individuals or organizations without your permission, including public organizations, corporations, or individuals, except when applicable by law. We do not sell, communicate or divulge your information to any mailing lists.
We at Amrutam Consultants, help the entities to communicate with Importer or Buyer. Our team is well versed with Export-Import Documentation and Foreign Trade Policy, etc. In case, you need these services, we would be glad to assist you. Please write to “consultants@amrutamglobal.com”
05.
Export Credit Guarantee Corporation of India (ECGC) Policy
Export Credit Guarantee Corporation of India (ECGC) is an Indian enterprise that is administered by the Government of India through the Ministry of Commerce and Industry. ECGC which is wholly owned by the Indian Government was set up in the year 1957 with the intention to promote exports by offering credit risk insurance and allied services to the exporters.
What is Export Credit Guarantee Corporation?
Export Credit Guarantee Corporation of India is fundamentally an export promotion organization, which seeks to enhance the competitiveness of Indian exports by offering them credit insurance covers.
Over the years ECGC has considered various export credit risk insurance products suiting the needs of Indian exporters. This corporation was set up for ensuring the smooth functioning of Indian exporters by minimizing the risks associated with the payments emanating from other nations. This insurance cover which is provided by ECGC also assists the Indian exporters with better access to credit facilities from banks and other financial institutions.
ECGC is the 5th largest credit insurance company dealing with the exports of any country. Export Credit Guarantee Corporation of India offers protection against the non-payment by an importer. Due to this insurance cover, the financial institutions are better placed for lending and providing larger credit to exporters. ECGC also offers credit ratings as well as shares information on various countries and risks associated with doing business with/in those countries.
What does an ECGC do?
It offers an array of credit risk insurance covers to the Indian exporters against the loss with respect to the export of their goods and services.
It provides Export Credit Insurance covers to the banks and other financial institutions for enabling exporters to find better services from them.
It offers Overseas Investment Insurance to the Indian companies investing in Joint Ventures (JVs) abroad in the form of loans or equity.
How does ECGC help the exporters?
- Guiding export-related activities
- Making information available with respect to various countries with their credit ratings
- Making it easy to get export finance from the banks and other financial institutions
- Helping Indian exporters recover bad debts
- Providing information on the credit worthiness of foreign buyers ECGC further ensures exporter’s credit risks against both political as well as commercial conditions and guarantees the payment to exporters.
- Standard policies that protect Indian exporters against overseas credit risks
- Construction works and services policies
- Financial Guarantees
- Export finance guarantee
- Packing credit guarantee
- Post-shipment export credit guarantee
- Export production finance guarantee
- Transfer guarantee
- Export performance guarantee
Over the years the Export Credit Guarantee Corporation of India has proved to be useful to Indian exporters. It pays 80 to 90% of the loss incurred by Indian exporters. The remaining 10 to 20% of the loss alone has to be borne by the exporters.
However, it doesn’t cover the risks mentioned below:
=> Export finance guarantee
=> Failure on the part of the buyer abroad to obtain the import authorization or exchange
=> A default of the exporter or his agent
=> Any loss which arises due to dispute in quality
=> Risk which is inherent in the nature of goods
We at Amrutam Consultants, help the entities to provide service to registration for ECGC policy. Our team is well versed with ECGC policy and its claim process, etc. In case, you need these services, we would be glad to assist you. Please write to “consultants@amrutamglobal.com”
06.
Letter of Credit (L/C)
A Letter of Credit (LC) is a document that guarantees the buyer’s payment to the sellers. It is issued by a bank and ensures timely and full payment to the seller. If the buyer is unable to make such a payment, the bank covers the full or the remaining amount on behalf of the buyer.
A letter of credit is issued against a pledge of securities or cash. Banks typically collect a fee, ie, a percentage of the size/amount of the letter of credit.
Importance of Letters of Credit
Since the nature of international trade includes factors such as distance, different laws in each country and the lack of personal contact during international trade, letters of credit make a reliable payment mechanism. The ‘International Chamber of Commerce Uniform Customs and Practice for Documentary Credits’ oversees letters of credit used in international transactions.
Parties to a Letter of Credit
=> Applicant (importer) requests the bank to issue the LC.
=> Issuing bank (importer’s bank which issues the LC [also known as the Opening banker of LC]).
=> Beneficiary (exporter).
Types of a Letter of Credit
Under this LC, documents are payable at the sight/ upon presentation of the correct documentation. For example, a businessman can present a bill of exchange to a lender along with a sight letter of credit and take the necessary funds right away. A sight letter of credit is more immediate than other forms of letters of credit.
The Bills of Exchange which are drawn and payable after a period, are called usance bills. Under acceptance credit, these usance bills are accepted upon presentation and eventually honored on their respective due dates.
For example, a company purchases materials from a supplier and receives the goods on the same day. The bill will be delivered with the shipment of goods, but the company may have up to 30 days to pay it. This 30-day period marks the usance for the sale.
For example, a company purchases materials from a supplier and receives the goods on the same day. The bill will be delivered with the shipment of goods, but the company may have up to 30 days to pay it. This 30-day period marks the usance for the sale.
A revocable LC is a credit, the terms and conditions of which can be amended/canceled by the Issuing Bank. This cancellation can be done without prior notice to the beneficiaries. An irrevocable credit is a credit, the terms and conditions of which can neither be amended nor canceled. Hence, the opening bank is bound by the commitments given in the LC.
Only irrevocable LC can be confirmed. A confirmed LC is one when a banker other than the Issuing bank, adds its own confirmation to the credit. In case of confirmed LCs, the beneficiary’s bank would submit the documents to the confirming banker.
In a back-to-back credit, the exporter (the beneficiary) requests his banker to issue an LC in favor of his supplier to procure raw materials, goods based on the export LC received by him. This type of LC is known as Back-to-Back credit.
Example: An Indian exporter receives an export LC from his overseas client in the Netherlands. The Indian exporter approaches his banker with a request to issue an LC in favor of his local supplier of raw materials. The bank issues an LC backed by the export LC.
Example: An Indian exporter receives an export LC from his overseas client in the Netherlands. The Indian exporter approaches his banker with a request to issue an LC in favor of his local supplier of raw materials. The bank issues an LC backed by the export LC.
While an LC is not a negotiable instrument, the Bills of Exchange drawn under it are negotiable. A Transferable Credit is one in which a beneficiary can transfer his rights to third parties. Such LC should clearly indicate that it is a ‘Transferable’ LC.
Get Help from us for LC Opening
We at Amtutam Consultants can help you by opening LC for your trade deal. If you need to conclude your trade deal, submit your LC requirements to us!
We will study your trade deal. If it complies with all the terms, we will process your request. And then, we will proceed with structuring the LC with the bank. Further, once you furnish the charges, we will open an LC from a bank account, instantly. Also, this will be issued on your behalf and transmitted to the seller’s bank via Swift.
Our team is well versed with the L/C opening process. In case, you need these services, we would be glad to assist you. Please write to “consultants@amrutamglobal.com”
07.
Certificate Of Origin
Certificate Of Origin is mainly needed to check whether the goods being exported/imported are legal and whether such export or import is subject to duties.
What is a Certificate of Origin?
A Certificate of Origin is a certificate that is used to identify the country of manufacturing any goods or commodity. The Certificate of Origin carries many other points of information such as what the product is, its destination and the countries of export. It is a necessary instrument for export or cross-border trades, as agreed upon by trade agreements and treaties by nations.
Importance of Certificate of Origin
The main requirement for a Certificate of Origin is for clearing customs. If the goods, exported/imported do not come with a Certificate of Origin, the Customs officer tasked with checking the goods will not allow the goods to leave the warehouse. The Certificate of Origin is used by the Customs officer to determine the duties that have to be paid and to check whether the goods being exported/imported are illegal.
Who Issues a Certificate of Origin?
A Certificate of Origin is a certificate that is used to identify the country of manufacturing any goods or commodity. The Certificate of Origin carries many other points of information such as what the product is, its destination and the countries of export. It is a necessary instrument for export or cross-border trades, as agreed upon by trade agreements and treaties by nations.
Types of Certificate of Origin
There are two kinds of Certificate of Origin that Chambers of Commerce may issue:
=> Non-preferential Certificate of Origin: This type of Certificate of Origin states that the goods being exported/imported are not given any preferential tariff treatment and the due duties must be levied upon the goods that are being moved.
=> Preferential Certificate of Origin: This type of Certificate of Origin is given towards goods that are subject to preferential tariff treatment in the payment of duties. These duties may be a reduction of the normal tariff, or it also may be a complete exemption of the tariffs. Such a situation arises when two or more nations reach a trade agreement entailing such exemptions when goods are exported or imported between these nations.
=> Beneficiary (exporter).
We can help you in getting ISO Certificate in a speedy & hassle-free manner. Just write to “consultants@amrutamglobal.com” and our team will get back to you.
08.
Deemed Export
What is the meaning of Deemed Exports?
“Deemed Exports” as defined in the Foreign Trade Policy-2015-20 means those transactions in which the goods supplied do not leave the country and the supplier in India receives the payment for the goods either in Indian rupees or in Freee foreign exchange. It means the goods supplied need not go out of India to treat them as ‘Deemed Export’.
“Deemed Exports” for the purpose of GST would include only the supplies notified under Section 147 of the CGST/SGST Act, on the recommendations of the GST Council. The benefits of GST and conditions applicable for such benefits would be as specified by the GST Council and as per relevant rules and notification.
Essential conditions to qualify as Deemed Exports
Applicable only for the supply of goods (not applicable to services).
Goods are not required to be taken outside India.
Such supply of goods must be notified by the Central Government as Deemed exports under Section 147 of the Central Goods and Services Tax Act, 2017 (CGST Act).
Goods must be manufactured or produced in India.
Payment can be received in Indian Rupees or convertible foreign exchange.
Such supplies cannot be made under Bond / LUT.
The tax must be paid at the time of supply. A refund of tax paid on such supplies can be claimed.
Benefits for Deemed Exports
Deemed exports shall be eligible for any / all of the following benefits in respect of manufacture and supply of goods, qualifying as deemed exports, subject to terms and conditions as given in HBP and ANF-7A:
=> Advance Authorisation / Advance Authorisation for annual requirement / DFIA.
=> Deemed Export Drawback for BCD.
=> Refund of terminal excise duty for excisable goods mentioned in Schedule 4 of Central Excise Act 1944 provided the supply is eligible under that category of deemed exports and there is no exemption.
In case you need our services, please write to “consultants@amrutamglobal.com”.
Deemed Exports different from Exports
1. Deemed exports are only applicable to goods and not services.
2. Deemed Exports cannot be made under Bonds or LUT (Letter of undertaking)
3. Goods need not be taken outside the country
4. Taxes on such supplies are required to be paid at the time of supply, however, the refund of the same can be claimed later.
5. If a refund has been claimed by the supplier then the recipient cannot claim ITC for the same.
09.
Restricted Authorisations for Import and Export
There are restrictions on imports and exports for various strategic, health, and other reasons. There can be quantitative and qualitative restrictions on imports and exports. If the goods are not banned, the government can give a permission/license for specific reasons.
Labeling and Marking Rules for Imports
stipulates that MRP, generic name of the product, month and year of entry in trade channel, importer name and address and quantity in standard units must be carried prominently on the “principal display panel” of the prepackaged commodities for retail sale only.
Technical Standards for quality:
The government has subjected imports of some products to mandatory compliance with Indian Quality Standards. The foreign manufacturers and exporters are required to register with the Bureau of Indian Standards (BIS) to comply with this requirement. Quality Standards are not applicable on imports made under Advance Licenses for physical exports issued with actual user conditions. Similarly, the imports made for re-export purposes are also exempted from the quality standards.
Principles of Restriction:
- Protection of public morals
- Protection of human, animal, or plant life or health
- Protection of patents, trademarks, and copyrights and the prevention of deceptive practices
- Prevention of prison labor
- Protection of national treasures of artistic, historic, or archaeological value
- Conservation of exhaustible natural resources
- Protection of trade of fissionable material or material from which they are derived
- Prevention of traffic in arms, ammunition, and implements of war
License:
Restricted goods can be imported / exported through a license or as per procedure in a public notice for this.
Restricted item license / certificate / permission may be granted by the Director-General of Foreign Trade or any other licensing authority authorized by him on this behalf. The DGFT / Licensing authority may take the assistance and advice of a facilitation committee. The Facilitation Committee consists of representatives of technical authorities and Departments / Ministries concerned
