REGISTRATION CUM –MEMBERSHIP CERTIFICATE (RCMC)- USES, BENEFITS AND PROCEDURE FOR APPLICATION

 

WHAT IS REGISTRATION CUM –MEMBERSHIP CERTIFICATE (RCMC)

The full form of RCMC is Registration-Cum-Membership Certificate. It is a issued by the Federation of Indian Export Organisations on behalf of the Government of India to Indian exporters.

In the case of export from India, RCMC is a mandatory registration that exporters must obtain before the export goods from India. It serves as proof that the exporter is a registered member of a recognized export promotion council or federation.

In the case of imports into India, RCMC is not directly related. It is a requirement for exporters from India and does not impact the process of importing goods into India. However, importers may need to obtain other licenses or permits, depending on the nature of the goods being imported.

WHAT ARE THE USES OF RCMC

AVAILMENT OF EXPORT BENEFITS: Exporters with a valid RCMC can avail various export benefits offered by the Government of India, such as duty drawback, export promotion capital goods scheme, etc.

ACCELERATES EXPORT: RCMC helps in accelerates exports from India by ensuring that only registered and authentic exporters can export goods from India.

AUTHENTICITY: RCMC ensures that only genuine and bona fide exporters are involved in the export business, which helps in reducing mala fide activities in the export sector.

COMPLIANCE: RCMC establishes that exporters comply with various regulations and laws related to exports and import-export procedures.

RECOGNITION: RCMC provides recognition to exporters as members of an export promotion council or federation.

HOW TO OBTAIN RCMC

To obtain the Registration-Cum-Membership Certificate (RCMC), you need to follow the below steps

First you need to identify the relevant Export Promotion Council or Federation related to your product or service.

Need to have a valid Import-Export Code (IEC) from the Director General of Foreign Trade. An IEC is a 10-digit code that is required for carrying out import-export activities.

For application of RCMC registration online through the website of the relevant export promotion council. You will need to submit the required documents such as PAN, IEC, GSTIN, and bank account details. You also need to pay the applicable fee for RCMC registration

After submitting the application form, the Export Promotion Council or Federation will verify your details and issue the RCMC if all requirements are met.

Once you have got the RCMC, it is valid for a limited period and needs to be renewed periodically as per the guidelines of the respective Export Promotion Council.

It is advisable to avail professional services for application of Registration-Cum-Membership Certificate (RCMC) for accurate and correct registration.

CA KHALID REHMAN

(Chartered Accountant)

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