Apply for Import Export License

Engaging in export-import activities without import export license registration is unacceptable in India and henceforth considered a legal offence. The import export license acts as immediate consent for exporters and importers in India. It attaches to various shipping documents for custom approvals. Thus, obtaining import export license registration is an absolute mandate. In this blog, we’ll discuss the import export license registration procedure and its documentation.


What is the Import Export License?

Import and Export license is a unique identification number that is an essential part of the import-export business, which consists of a 10-digit code with lifetime validity. The importer-exporter holds an import export license granted by the Directorate General of Foreign Trade (DGFT) to import and export in India.


What is the use of import export licenses in India?

Import-export license forms the primary document for recognition by the Government of India for an Exporter/Importer. Based on the license, firms can acquire various benefits for their exports/imports from DGFT, Customs, Export Promotion Council etc.


Advantages of Import Export License

These are some other following benefits of export import license online apply:

  • It helps in the expansion of your business to a global level.

  • It provides import export license online application.

  • Any business entity can use the license for a lifetime.

  • No need for renewal.

  • Document Requirement to get an import-export license is minimal.

  • Update import export license online easily annually.


The Requirement to register the import export license online application

These are the following cases where it requires the import export license:

  1. The customs officials need it when an importer must clear his shipment from customs.

  2. When an importer sends funds overseas via banks, the banks must know you have the import-export license.

  3. When an exporter needs to transport his goods, the customs port will require it.

  4. If an exporter gets banknotes in a foreign currency directly into his account, then the bank requires it.


Procedure for export import license online apply.

You must follow these simple import export license registration steps to get your import export license online:

Step 1- Submit all required documents, bank details, and the Digital Signature Certificate (DSC).

Step 2- Fill out the import export license online application with the Directorate General of Foreign Trade (DGFT).

Step 3- Once the authority verifies all the documents and applications, they will grant the import export license as a soft copy to the entity.


Documents required for export import license online apply.

  • Company’s PAN card (not applicable in the proprietor’s case).

  • Applicant’s identity proof.

  • Incorporation certificate or partnership deed.

  • Address proof of the office.

  • Copy of cancelled cheque/banker certificate of the current account in the company’s name.


Eligibility to get import export license

Any business registration dealing with the import and export of goods can register for the import-export license. However, you don’t have to require a permit for the import/export of goods for personal use.


How to modify import export license online application?

You can modify your application multiple times before submitting it to the following department.


Exemption of Import Export License

  • Import Export License is not an obligation for the traders registered under Goods & Service Tax (GST).

  • There is no need to obtain a license for the personal trade of goods and services.

  • There is no requirement to obtain a license to import or export the Government of India’s goods or services.


Import Export license registration fees

The Government fee for import export license registration is ₹500. However, the professional fee for import export license registration is ₹999. Hence, the total cost of getting an import-export certificate will be ₹1499 (₹500 + ₹999).


Do we need to renew your import export license?

It is now compulsory for every import-export industry to renew their import export license annually.

How much time does it take to obtain the import-export license?

Once you submit the online application by paying the appropriate fees and requisite documents, the license will be auto-generated afterwards. Then, the DGFT will send the report regarding the allotment of an import-export license to an applicant via an SMS and e-mail, along with a hyperlink, so that you can download or print the e-import export license.


Conclusion

In conclusion, obtaining an importer-exporter license is mandatory before commencing activities of Import or Export. If you have any issues registering for an import-export license, Lawgical India experts will assist you in getting one! An individual must address import-export registration as it is compulsory in nature. The import-export applicant must also register under GST as a specific registration category, so the goods or services can import or export from India worldwide.
Location: India

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