Why Import License Is Required?

Import licensing

provides protection from legal disputes and financial losses for businesses engaged in international trade

. An import license is a permit to import an indicated quantity of certain goods over a specified period of time (typically one year).

Do we need import license?

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. Restricted items can be imported only after obtaining an import license from the relevant regional licensing authority. … The list of canalized goods can be found in the ITC (HS).

How do I get an import license?

1. Step 1: Application Form. First, you need to prepare an application form in the specified format – Aayaat Niryaat Form ANF-2A format and file it with the respective Regional office of DGFT.
2. Step 2: Documents. …
3. Step 3: Filing Application. …
4. Step 4: IEC Code.

What are the types of import license?

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 is the use of import license?

Import licenses are considered to be non-tariff barriers to trade when

used as a way to discriminate against another country’s goods in order to protect a domestic industry from foreign competition

. Each license specifies the volume of imports allowed, and the total volume allowed should not exceed the quota.

Do I need a license to import goods 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.

How do I get a exim 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.

How can I get IEC license?

1. Step 1: Go to the DGFT Website.
2. Step 2: Then You need to Go on Services tab.
3. Step 3: Enter your PAN number (A Person/if any Company PAN Card)
4. Step 4: Enter the your details (As Mentioned on PAN Card)
5. Step 5: Enter your mobile number to get (OTP) verification process.

What are the documents required for export and import license?

• 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.

What is the import permit?

These are procedures required for importing freight. An importer is required to submit an import declaration to customs for required inspection before obtaining an import permit. … In principle it is after

goods to be imported

are carried into a Customs Area (bonded area).

What is special import license?

Special Import License are provided by Director General of Foreign Trade (DGFT). … SIL Can either be used by

the exporter to import certain items

(Specially classified or SIL can be sold in the open market against receipt of cash premium.

What is Exim license?

India’s import and export system is governed by the Foreign Trade (Development & Regulation) Act of 1992 and India’s Export Import (EXIM) Policy. … Registration with regional licensing authority is a

prerequisite for the

import and export of goods.

WHO issues import permit?

Ministry of Commerce Of Bangladesh

is the Ministry responsible or issues Import Registration Certificate (IRC) to qualified persons who applied for import.

What is automatic import license?

Automatic licenses, which

are freely granted by a government and do not restrict imports

, may be required to gather trade data, origin statistics or other information. In contrast, non-automatic licenses are not granted in all cases. They are used to administer quotas or other types of import restrictions.

What is DGFT license?

DGFT is

the licensing authority for exporters, importers, and export and import business

. III. DGFT can prohibit, restrict and regulate exports and imports. … DGFT has introduced ITC (HS CODE) schedule-1 for import items in India and Schedule-2 for Export items from India.

What documents are required to import from China?

• Bill of Lading/Air Waybill.
• Commercial Invoice cum Packing List.
• Proforma Invoice.
• Purchase Order.
• Letter of Credit.
• Insurance Certificate.
• Health Certificate (for food products)
• Country of Origin Certificate.