If you need an RCMC for your imitation jewellery business but don't know how to obtain one, then read on to find out more!
RCMC for Imitation jewellery, also known as costume jewellery, junk jewellery, or trinkets, is immensely popular in today’s society. Many synthetic materials are used in its production. Because it is the form of jewellery that is most accessible to individuals and allows for personal experimentation, it is frequently referred to as ‘fashion jewellery’.
Because buying gold or silver jewellery is expensive for the majority of people in India, imitation jewellery is more widely used. This is because expensive raw materials & craftsmanship are needed to make gold or silver jewellery. If you are thinking of starting an imitation jewellery business but don’t know how then here is everything you should know.
RCMC for Imitation Jewellery
One needs an RCMC from the Gem & Jewellery Export Promotion Council to start an imitation jewellery export (GJEPC). Since imitation jewellery falls within the HSN Codes, it is necessary to obtain an RCMC from GJEPC before starting a business.
Why Does One Need to Register Under gjepc?
Chapter 2 of the Handbook of Procedures 2015-2020 states that RCMC is necessary for jewellery exports. An exporter may submit a request for registration to the relevant EPC. After being accepted as a member of GJEPC, the applicant will immediately receive an RCMC Registration for Imitation Jewellery. It will come from the relevant EPC in Appendix 2R format.
An exporter must present documentation to prove that he is a manufacturing exporter in order to be registered. Potential exporters can also apply to join an EPC and register as associate members. An RCMC for imitation jewellery export will be issued by GJEPC.
Gems and Jewellery Export Promotional Council
The GJEPC is an apex body created by the Indian government and is supported by the Ministry of Commerce and Industry. It is responsible for fostering the expansion of the jewellery sector on both domestic and global levels. The duties of GJEPC are
Trade Facilitator:
The Council organises programmes on national & international levels to promote trade.
Advisory Role:
The Council’s main work has included promoting communication.
Training and Research:
Numerous organisations are run by the Gems & Jewellery Export Promotion Council for this purpose. And this organisation offers regular and part-time training in all aspects of design and manufacturing.
Boosting Exports:
GJEPC organises combined participation of member-exporters in some significant international fairs. It also sets up promotional booths in others as part of its marketing of the sector. The Gems and Jewellery Export Promotion Council (GJEPC) carries out various activities for the promotion of the sector. It was created to assist jewellery exporters. All the documents which you will be needing for starting an imitation jewellery business
- The Gem & Jewellery Export Promotion Council (GJEPC) RCMC
- Company – Firm Incorporation – Entity Registration
- Import Export Certificate – IEC Code
- Goods & Service Tax Registration – GST
- MSME Registration
- Certificate Of Origin
Why Is Imitation Jewellery In Demand?
Imitation jewellery is often plated in gold, platinum, or silver and is often made of plastic, glass, acrylic, and resin. Consumers are drawn to silver jewellery because it is less expensive than gold. It is a fashionable and reasonably priced option for jewellery. In fact, a designer can purchase silver and use it to create a range of unique designs. Nowadays, students with imitation jewellery are able to experiment and create their own unique style. This is why it has become immensely popular.
Registration Cum Membership Certificate
Export promotion councils’ primary objective is to promote and enhance a country’s exports. Each council is in charge of promoting a specific product category. According to policy paragraph 2.93, it is stated that unless specifically exempted, anyone applying for a license, certificate, or permission to import or export (aside from restricted items as defined by the policy) need an RCMC. To avail any other benefit or concession under the export and import policy one must present an RCMC. And it also stated that registration-cum-membership-certificate should be issued by a competent authority.
Documents Needed for RCMC
The following documents should be submitted with the registration-cum-membership-Certificate application:
- A copy of the IEC number issued by the licensing authorities concerned
- for manufacturing exporters the needed documents are
- SSI/IEM/MSME (Udyog Aadhaar Memorandum) certificate
- A copy of the Memorandum and Articles of Association in the case of companies/partnership deeds in the case of partnership firms.
A different exporter who is a member of the Export Promotion Council must sponsor the application form. He or she must be an active participant in the Gem and Jewellery Export Promotion Council. The RCMC is given to the applicant in the manner specified in Appendix 4. If it can be demonstrated that he is not a defaulter, it is done after an examination and satisfaction, and RCMC is then provided.
Any change to the exporter’s ownership, constitution, name, or address must be appropriately included in the RCMC within 30 days of the change’s date. The registering authority will excuse a delay in particular circumstances. This certificate was issued up to the conclusion of the licensing year and is valid for five years. The exporter must maintain membership and be eligible to vote by paying the membership fee by April 30 of each year. It is possible to register as a manufacturing exporter or a merchant exporter. A manufacturer exporter is someone who imports and produces items for his or her own gain or for export.
- Either an SSI (Small Scale Industries)
- or an IEM (Industrial Entrepreneur Memorandum)
- MSME (Udyog Aadhaar Memorandum) certificate is held by a manufacturer exporter.
A merchant exporter is someone who trades and imports the raw materials and also manufactured products under contract or on demand, and exports the finished products. The exporter is required to provide the EPC with quarterly reports outlining the numerous items he exports. Also, status holders are required to send FIEO monthly returns. The EPC deregisters an RCMC holder who fails to comply with a registration requirement. A show-cause notice will first be given to the exporter. He will have the chance to object to the de-registration that is being considered.
FAQ:
How can I start exporting imitation jewellery from India?
Ans: You'll need to register your business with the relevant authorities, obtain necessary licenses, and identify your target markets. Collaborating with manufacturers and understanding international regulations is crucial for a successful venture.
What is the customs duty on artificial jewellery?
Ans: The customs duty on artificial jewellery can vary depending on the country you're exporting to and the specific regulations in place. It's advisable to consult with customs authorities or a customs broker to determine the exact duty rates for your destination
Can we send artificial jewellery through courier?
Ans: Yes, you can send artificial jewellery through courier services. However, you should be aware of the customs and shipping regulations in both your home country and the destination country to ensure a smooth and compliant shipping process.
What is the export data of imitation jewellery?
Ans: Export data for imitation jewellery is typically available from government trade departments, customs authorities, or industry associations. You can access this data to analyse market trends and plan your export strategies effectively.
What is the tax rate for imitation jewellery?
Ans: The tax rate for imitation jewellery can also vary depending on your location and the specific type of jewellery. In India, for instance, the GST rate for imitation jewellery is typically 3%. However, tax rates can change, so it's essential to stay updated with current tax laws and rates.
Conclusion
We hope that after reading the information above, one has understood why RCMC for imitation jewellery export is essential. Also, obtaining an RCMC through the GJEPC allows one to have a number of advantages that will help in the growth of the exporter’s business. If you are also looking to start an imitation jewellery business in India, our expert business advisors at Vakilsearch can provide you with the most seamless and hassle-free RCMC registration process.
