Académique Documents
Professionnel Documents
Culture Documents
Group No. 7
Submitted By:
Abhishek Agarwal(02)
Jasdeep Singh(13)
Nitesh Khosla(32)
Chetan Raman(44)
Ratnesh Pathak(45)
Shivanshu Pandey(51)
Importer/ Exporter Code
(IEC)
An IEC is a 10 digit number which is
mandatory for undertaking export/ import.
Application for obtaining IEC Number can
be submitted to Regional authority of DGFT
in form ANF 2A along with the documents
listed therein.
Applicants can also apply for e-IEC on the
DGFT website (http://dgft.gov.in/). Only one
IEC can be obtained against a single PAN.
RCMC-Registration Cum
Membership Certificate
For availing authorization to import/
export or any other benefit or
concession under FTP 2015-20, as
also to avail the services or
guidance, exporters are required to
obtain RCMC granted by the
concerned Export Promotion
Councils/ FIEO/Commodity Boards/
Authorities.
The exporter can be registered under two
categories -Merchant exporter and
Manufacturing Exporter.
While applying for RCMC, an exporter has to
declare his main line of business. Further, the
RCMC should be obtained from the Export
Promotional Council, based on the line of
business. e.g. In case you are dealing in
coconut, then you will fall under Coconut
Development Board.
In case you are not coveredbyany mentioned
export promotional council, then you may
apply at FIEO (Federation of Indian Exporters
Organisation).
PACKING CREDIT
1Period of Advance
(i) The period for which a packing credit advance may be
given by a bank will depend upon the circumstances of the
individual case, such as the time required for procuring,
manufacturing or processing (where necessary) and
shipping the relative goods / rendering of services. It is
primarily for the banks to decide the period for which a
packing credit advance may be given, having regard to the
various relevant factors so that the period is sufficient to
enable the exporter to ship the goods / render the services.
(ii) If pre-shipment advances are not adjusted by submission
of export documents within 360 days from the date of
advance, the advances will cease to qualify for prescribed
rate of interest for export credit to the exporter ab initio
DISBURSEMENT OF CREDIT
Source:- https://www.rbi.org.in
ACU Transactions
Source:- https://www.rbi.org.in
Unit of settlement of ACU
Transaction
The Asian Monetary Units (AMUs) is the common unit of
account of ACU and is denominated as ACU Dollar and
ACU Euro, which is equivalent in value to one US
Dollar and one Euro respectively
All instruments of payments under ACU have to be
denominated in AMUs
Settlement of such instruments may be made by AD
Category-I banks through the ACU Dollar Accounts and
ACU Euro Accounts, which should be distinct from the
other US Dollar and Euro accounts respectively
maintained for non ACU transactions
Source:- https://www.rbi.org.in
Reduction in Invoice