The purpose of RCMC registration is to get a certificate that confirms an exporter who deals with items registered with an agency/organisation approved by the government of India.
RCMC registration is needed to get a required certificate that must be acquired by all companies or businesses that wish to pursue the Import Export Code and advantage from Foreign Trade Policy concessions such as duty disadvantages and duty credit scrips. This certificate, even so, is not needed for traders who are excluded under the Export-Import Policy. A proficient governmental agency issues the RCMC registration. Except as otherwise stipulated, the RCMC license is valid from 1st April of the licensing year (Issuance Year) for the next five years, completing on 31st March of the licensing year.
Membership Types For RCMC Certification Under FIEO
Under FIEO, there are two kinds of membership for RCMC Registration.
- Ordinary Membership
The names imply that the enrolment is only the basic membership. This membership type would’ve been appropriate for a company new to the import and export business.
- Affiliation as an Associate
Associate membership is reserved for firms that have been in the export and import sector for a long time. The fees for associate membership are premised on the fee plus a marginal GST rate.
Benefits Of RCMC Registration
The FIEO is the primary governmental agency for RCMC registration. As a result, the exporter will have to apply for membership in the FIEO. The RCMC is the registration given by the FIEO. The following benefits must be regarded when applying for RCMC registration:
- Policy on Foreign Trade
An exporter who chooses RCMC registration will receive a few benefits from the country’s foreign trade policy. Aside from that, the exporter would receive various types of alerts on foreign trade policy.
- Export Promoting
Export promotion is critical in India. Promoting exports in the country to interact with the production of different areas is essential. Obtaining this enrollment would directly help promote exports. One of the benefits of obtaining this registration is the ability to secure international expansion policies regarding the nation’s exports. For instance, the government has launched the Atmanirbhar Bharat scheme. The government wants Indians to purchase the products made in India under the scheme. Self-sufficiency can be achieved through these schemes. This system will also raise the number of Indian exports.
- Using Various Schemes
The export-oriented corporation can take advantage of various FIEO strategies via such registration. This is not feasible for any unregistered companies or businesses.
- Government compliance
An organisation or business that obtains this registration will comply with the government’s regulations and rules and regulations.
- FIEO updates
However, apart from receiving various types of exemptions from the FIEO, alerts on India’s foreign trade strategy would be offered. Individuals who would like to take advantage of the FIEO’s advantages but wouldn’t want the RCMC certificate still can register as independent exporters.
How can I apply for Regular Membership in the RCMC?
The RCMC registration system recognises two types of membership. If the person wants to apply for ordinary membership, the following steps need to be taken:
Navigate To The FIEO’s Official Site
In the first phase, the exporter or merchant must go to the website https://www.fieo.org/index.php. The applicant must select the membership tab and proceed to the section about how to qualify for RCMC registration and approval. So apart from that, the application can be accessed from the FIEO website downloads tab.
Press On Online Membership Application
Under the primary tab membership, there are subtabs. The applicant must select the application button. The applicant will then be diverted to another page where qualifications will be needed. It will contain the user id, password, and import/export code (IEC Number).
Enter The Specifics With The Information Provided
There would be another tab called ordinary membership on the membership tab. The exporter is asked to disclose information under ordinary membership. This data will also include the exporter’s name, address, and status.
Give the Required Information
The firm’s name and the type of exports held out by the firm would be required.
Enter the Organisation or an entity
The applicant must enter the organisation or an entity in the provided box in the following step. This indicates whether the organisation is a collaboration or a corporation.
They offer information on key executives in management
The applicant must provide details on the entity’s key management executives in the following step. This would include information on the company’s shareholders and directors.
Include A Letter Of Authorisation
The applicant must submit a letter of authority as the final step. This letter would then state who is the applicant’s representative in the Federation of Indian Export Organisations on the application, and the applicant should provide such information.
How Do I Enroll For An FIEO Associate Membership?
To pertain to associate membership, simply follow the instructions below:
- Get the online application here
- The foremost step is for the applicant to download the application for associate membership
- Demonstrate the nature of your business
- The applicant must then specify the type of business being considered. The applicant must describe the sort of business and the functions within the organisation used for the business
- Enter the business-related information
- The applicant must provide information about the company. This included the IEC number, entity specifics, and other business-related details
- Documents must be offered
- The documents must be posted or appended to the form.
Provide the Authority Letter
The applicant needs to provide the letter of authority as the final step. The authority letter will state who will portray the applicant in the FIEO for RCMC registration.
It is better to find the RCMC Website before taking anything further action. The website you’re searching for is most highly probable a single link. If you discover the page you’re looking for, proceed to the guidelines on the page. Or else, you’ll have to find some other institution or enlist the assistance of a relative or friend to complete your registration.