FAQ'S


Frequently Asked Question

What are the major steps in starting Exports business in India?

Establishment of Organisation: The applicant should decide a Catchy Name with an Attractive LOGO for his company.

Open Bank Account: After obtaining PAN no apply for opening bank account in banks listed under AD (Authorized Dealer) Category 1 / Export Import Bank of India (EXIM) banks are eligible to support and process transactions with foreign parties.

Obtain IEC number: Import and Export Code is to be obtained by the business entity for import into or export from India. Import and Export Code is popularly known as IEC number. Import and Export Code is issued by Directorate General of Foreign Trade (DGFT). IEC is a 10-digit unique number.

Obtaining RCMC (Registration cum Membership Certificate): Registration-Cum-Membership Certificate (RCMC) is a certificate that validates an exporter dealing with products registered with an Export Promotion Council that are authorized by the Indian Government.

After getting IEC and RCMC import export business can be started in India.

How to identify buyers in the exporting countries?

Buyer identification can be done using various sources such as B2B portals, web browsing (to find importers in the foreign market), participation in trade fairs, buyer-seller meets, exhibitions. Apart from these conventional/popular methods, buyers can be identified with the help of Export Promotional Councils (EPC), Indian Missions abroad, overseas chambers of commerce, and friends and family.

Companies can explore other methods for connecting with buyers from the foreign market. Other methods can be becoming a member (avail subscription) of trade associations, councils, and non-profit organization. Micro, Small and Medium Enterprises (MSMEs) can also connect with Indian Embassy to explore more opportunity.

How are Exports treated under GST?

All exports are deemed as inter-State supplies.

Exports of goods and services are treated as zero rated supplies.

The exporter has the option either to export under bond/Letter of Undertaking without payment of tax and claim refund of Input Tax Credit (ITC) or pay Integrated Goods and service tax (IGST) by utilizing ITC or in cash at the time of export and claim refund of IGST paid.

What are the mandatory Documents for Export and Imports?

Bill of Lading / Airway Bill

Commercial Invoice cum Packing List

Shipping Bill

Additional Documents: For specific items of export and import NOC/License or any other documents like Phytosanitary Certificate, Health Certificate, Drug License, etc.

What are the Quality Standards for Exporting products?

An important aspect about the goods to be exported is compulsory quality control and inspection. For this purpose, Export Inspection Council (EIC) was set up by the Government of India under Section 3 of the Export (Quality Control and Inspection) Act, 1963.

Indicative Quality Standard for exports:
ISI Standard
AGMARK Standard
ISO 9000 Standard
BIS Hallmark