Saturday, December 21, 2024
Home » Exports » Registration certificate not mandatory for exporters seeking benefits: DGFT

Registration certificate not mandatory for exporters seeking benefits: DGFT

October 11, 2024
Exports
0

Share

“Exporters can claim benefits under these schemes without obtaining an RCMC,” the DGFT has said in a trade notice. The commerce ministry’s arm DGFT has clarified that registration-cum-membership certificate is not mandatory for exporters to seek benefits under schemes like duty drawback and remission of state levies. According to the Foreign Trade Policy, a Registration-cum-Membership Certificate (RCMC) is required for exporters in order to avail benefits under the policy. Holding the certificate can also help exporters in availing benefits with respect to customs and excise. The certificate is issued by export promotion councils and commodity boards.

The Directorate General of Foreign Trade (DGFT) has said that schemes such as duty drawback, rebate of State and Central taxes and levies and remission of duties and taxes on export products fall under the category of remission-based schemes. These schemes are aimed at remitting duties or taxes on exported goods. For these schemes, “the requirement of an RCMC does not apply. Exporters can claim benefits under these schemes without obtaining an RCMC,” the DGFT has said in a trade notice. In a separate order, the DGFT has clarified that import/ re-import of “Exhibits and Samples” for demo, display, exhibition and participation in fairs or participation in India or abroad shall be regulated under specified norms of the foreign trade policy. They would not be subjected to the requirement of import authorisation or registration under Import Monitoring Systems subject to other compliance.

Related Posts

Reader / Viewer discretion and disclaimer :
The information provided on SMEConnect (www.smeconnect.in) website is intended for general informational purposes only. While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the content. The views and opinions expressed in the articles and posts on this website are those of the authors and do not necessarily reflect the official policy or position of SMEConnect website. Readers are advised to independently verify any information found on this website before making decisions based on it. We do not endorse, represent, or warrant the accuracy or reliability of any third-party content linked on this site. Furthermore, SMEConnect (www.smeconnect.in) website shall not be held liable for any errors, omissions, or delays in the information provided, nor for any losses, injuries, or damages arising from its display or use. Please note that the content on SMEConnect (www.smeconnect.in) website may be subject to change without notice.