Eligibility Criteria for RCMC Registration
Registration and membership certificates are referred to as RCMC and is crucial document needed by Indian exporters. With the help of this certificate, the company is given permission to do export business and apply for a foreign trade policy concession of some kind.
The Federation of Indian Export Organisations (FIEO) gave this certificate. Another organization that issues the certificate is the Export Promotion Council of India (EPC). Community boards are also able to grant this certificate.
The promotion of Indian exports is one of the main objectives of providing this kind of certificate. Furthermore, having such a certification would lend legitimacy while negotiating public transactions.
A company or agency is not required to possess this type of certificate if it has been granted exemption from the requirement for an export and import license. According to India’s export promotion strategy, an exporter must obtain this kind of certificate. The Export Promotion Council in Charge would issue the certificate (EPC).
This article will briefly discuss the eligibility criteria for RCMC registration. Along with that, the article will also briefly describe the procedures and documents required for RCMC registration.
Eligibility Criteria for RCMC Registration
The main eligibility criteria for RCMC registration are:
Merchant or exporter
First, the applicant needs to confirm that the company being conducted is an exporting and importing business. One of the main prerequisites for starting an export business in India is this.
In addition, the exporter must confirm that they have submitted an application for the Import Export Code (IEC) with the appropriate authority. The DGFT is the authority for the IEC (Director General of Foreign Trade).
Business Main Line Statement
The principal line of business must be disclosed by the exporter or merchant. For instance, the Tea and Coffee Promotion Board must be consulted if coffee and tea are the primary business lines. The FIEO must grant permission for the products to be exported if they are not covered by any export promotion boards or other authorities.
Board approval for the FIEO
The applicant must make sure that the appropriate approval has been obtained from the appropriate board or FIEO. The candidate would need to apply to the FIEO for approval if there isn’t a specialized board for a given product. The FIEO must approve the same.
Procedure for applying to the RCMC
If a person or applicant wants to submit an application for an RCMC certificate, they must accurately complete the ANF 2C form and sign it with a reference to the export product.
For instance, if a candidate has ties to the tea or coffee industries, he should apply for the Tea and Coffee Council, and if he is a member of a textile exporter, he should apply for the AEPC (Apparel Export Promotion Council). The main procedure for applying to the RCMC is:
There are two different categories of exporters: manufacturers and merchants. To register as a manufacturing exporter, the person must provide documentation of the manufacturing facility that is currently in operation.
The data required for the form is obvious:
- The applicant must submit an application to the relevant EPC that contains the company’s address, branch, registered office, factory, and contact information.
- Along with the production unit information, such as factory registration, an industrial license, etc., an applicant must supply the IEC code in detail.
- When submitting an export request, a person should also mention their Trading House, Star Trading House, Export House, or Super Star Trading House number.
- They should also offer product specifications for the major task type and any required registration.
- The applicant can consult the DGFT’s updated Annexure 2T for a list of EPCs, Boards, and Authorities as well as their mobile numbers and other pertinent details if they want to know which EPC/Commodity Board/Authority their product is under. At this time, there are 37 EPCs present.
Documentation required for Registration Cum Membership Certificate (RCMC)
For the license mentioned above, the following papers are needed:
- A copy of the applicant’s import-export code. The appropriate licensing agency or authority must certify the copy of the IEC code as being authentic along with the PAN card and personal number for identification.
- Any type of pay order that favors the name of the Federation of Indian Export Organisation, such as a cross-check, demand draft, or pay the order.
- The DD or cross-check must be used to pay the yearly dues. Rule 6(i) of the Regulations & Regulations of the Memorandum & Articles of Association of FIEO stipulates that such rules must be in compliance.
- According to the guidelines established by the specific authority, an authorization letter must be written. A chartered accountant must sign this authority letter and testify to its validity. This authority letter must be signed by a chartered accountant who will also attest to its legitimacy.
- Additionally, copies of the relevant certificates, including the SSI certificate, industrial licenses, import-export permits, and other specifications, must be self-attested. Only in this case would it be appropriate.
- The self-certified copies of the same are required if the company is regarded as a particular industrial house.
- Information pertaining to the GST, such as the GSTIN
- Additionally, the applicant must give their export turnover for the previous three years.
- Statement of foreign exchange earnings over the last three years
- This letter of authorization must be signed by a professional accountant who will also attest to its legitimacy.
Conclusion
The FIEO is regarded as the council for export promotion in India for gaining eligibility criteria for RCMC registration. The business or organization would need to submit an application to join the FIEO first.
For exporters in India, RCMC registration is a critical prerequisite that gives them access to a range of perks and incentives provided by the government. Exporters can receive their RCMC and take advantage of the benefits it offers by meeting the eligibility requirements, which include confirming that the business being conducted is an exports and imports business, stating the primary line of business, and receiving the necessary clearance from the FIEO.
If you have any querires regarding the eligibility criteria for RCMC registration in India, consult our experts from Odint Consulting.
FAQ’s
The Federation of Indian Export Organisations, or FIEO, was established in 1965 as the nation’s lead agency for export promotion organizations. With its headquarters in Delhi, FIEO is officially recognized by the Societies Registration Act, of 1860.
The FIEO serves as the vital link between the Indian export trade facilitation industry and the Central and State Governments, financial institutions, ports, railways, and surface transportation. It participates in the high-level committees set up by the Indian government to promote commerce. The Government receives crucial advice from it on a variety of trade-related issues.
The RCMC registration certificate or license is good for five years. The fiscal year commencing on 1 April would be taken into account when determining the validity period.
Various commissions are given permission by the central government to grant the aforementioned certification. This would depend on the kinds of goods that are taken into account for export.
