Quick Answer: What is import Licence in India?

What Is Import Licence ? When an exporter wants to trade in foreign goods, he needs authorization from proper authority i.e. DGFT. When DGFT approves exporter such license it is known as Import License.

How can I get import license in India?

How to Setup a Business in India With Import-Export License

  1. Choose your products. …
  2. Decide your company name, if you have not registered a firm as yet. …
  3. Register your firm, if it’s not already registered.
  4. Apply online for IEC – Importer Exporter Code with DGFT, and pay fee of Rs.

Do I need license to import from India?

There is no need to obtain any import license or permission to import such goods. Most of the goods can be freely imported in India. … The list of restricted goods is provided in ITC (HS). An import license is valid for 24 months for capital goods, and 18 months for all other goods.

What is the process of import license?

Step 1:- File an application form that is prepared in the prescribed format of Aayaat Niryaat Form no. 2A and submit the same to the Regional office of the DGFT. Step 2:- Submit the required documents like identity proof, address proof, bank details. with a certificate according to ANF2A.

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What are the types of import Licence?

The two types of actual user license are: General Licenses : This license can be used for the imports of goods from all countries, except those countries from which imports are prohibited; Specific Licenses: This license can only be used for imports from a specific country.

What are the import license?

Import licensing can be defined as administrative procedures requiring the submission of an application or other documentation (other than those required for customs purposes) to the relevant administrative body as a prior condition for importation of goods.

What are the documents required for import?

List of Documents required for 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)

Who regulates imports India?

DGFT or Directorate General of Foreign Trade is a government organisation in India responsible for the formulation of guidelines and principles for importers as well as exporters of country. Preparation, formulation and implication of Exim Policies are one of the main functions of DGFT.

What is the main export of India?

India’s major exports included petroleum products, gems and jewelry, and drug formulations. Additionally, the value of the various types of machinery India exported was valued at over 29 billion U.S. dollars. Other major exports include spices, tea, coffee, tobacco in agriculture, along with iron and steel.

Do I need a license to import from China?

Do I Need a Permit to Import from China? There is no general import permit for importing products from China. However, you might need a permit to import from a federal agency certain goods from China. … As an importer, you must ensure your imported products meet all federal requirements, which sometimes include permits.

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