Rules and Guidelines for Import
Registration of importer is a pre-requisite for import of goods. The Customs will not allow clearance of goods unless the importer has obtained IEC Number from issuing authority. In India, IEC number or Importers Exporters Code is issued by the DGFT.
There are various rules and guidelines in respect of various commodities and category of importers. These are available in the following publications issued by the Ministry of Commerce, Government of India and revised from time to time:
- Foreign Trade Policy, 2015 – 2020
- Handbook of Procedures
- Standard Input – Output Norms
- ITC (HS) Classification of Import and Export Items
We shall study about this article further, in detail, in our next post.