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CS Executive · Setting Up of Business, Industrial and Labour Laws · Identifying Laws applicable to various Industries and their Initial Compliances

Anita Exports Pvt Ltd, based in Chennai, intends to ship handicrafts to Germany. Which registration must it ordinarily hold before making the export, in addition to its basic business registrations?

Anita Exports must ordinarily hold an Importer-Exporter Code issued by the DGFT before exporting handicrafts. This code is the basic identification for import and export trade. Factory licences, Nidhi status or RBI consignment licences are not the required registration for exports.

  1. AImporter-Exporter Code issued by the DGFTCorrect
  2. BFactory licence under the Factories law
  3. CRegistration as a Nidhi company
  4. DTrade licence from the Reserve Bank of India for every consignment

Explanation

A person who wishes to import or export goods must generally obtain an Importer-Exporter Code from the Directorate General of Foreign Trade. A factory licence concerns manufacturing premises with workers. Nidhi status is irrelevant to export. RBI does not issue a trade licence for each consignment.

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