RCMC is an abbreviation for Registration Cum Membership Certificate (RCMC). This article revolves around the RCMC needs, and its purpose.
Registration Cum Membership Certificates are issued by the Federation of Indian Export Organizations (FIEO) and the Export Promotion Councils (EPCs). The government of India has approved several organizations and agencies to assist with advertising and the growth of export businesses. This blog answers the quetion, “Who Needs an RCMC” in detail.
It is a five-year membership of RCMC that certifies that the holder is registered with FIEO/the relevant EPC or Commodity Board. Some popular EPCs are eepc, sepc, gjepc, APEDA, tea board, and spices board.
Applicants for an RCMC must state their primary means of work, as well as possess an RCMC that entitles them to all of the compensations and benefits of their respective parent organization.
The Export Promotion Councils of India issue the RCMC. The RCMC is valid for 5 years with an annual subscription; however, this varies by council.
Furthermore, RCMC is to be used in accordance with the line of business. For example, if you sell coconut products, you must register with the Coconut Development Board.
The Purpose of RCMC
If you are an exporter, you must apply for RCMC.
- Any restricted item can be exported (or imported) with the right permission
- Making use of various benefits of the Foreign Trade Policy
- Looking for advantages provided by Customs and Central Excise authorities
It is important to note that an RCMC is required even if you intend to export two or more products that fall into different categories and thus have different EPCs.
Exporting goods and products around the world is a difficult task, and the Government of India offers several incentive schemes to help exporters solve profitability, cash flow, and production level issues.
Drip Capital, too, does its part by providing our clients with competitive interest rates on novel post-shipment financing solutions. Aspiring exporters have received $1 billion in funding from us in the last four years.
Who Needs an RCMC?
According to the foreign trade policy, RCMC is applicable to two types of people.
- Anyone applying for a license to import or export restricted goods, or any other license under import export, must first obtain RCMC Registration Online.
- Anyone wishing to claim a benefit under any export scheme must first register with the RCMC.
Is There Any Other License That You Obtained Before Applying for the RCMC?
Yes, a person must first apply for an Import Export Code (IEC), before applying for RCMC. The import export code can be used online with a single digital signature.
What Is the Procedure for Registering an RCMC in India?
In India, there are various registration processes that vary depending on the product. Registration procedures are not standardized. If you have any questions, you can contact us.
Fees Imposed by the Government for RCMC
As previously stated, there are approximately 30 export promotion councils, each with its own registration procedure and government fees based on the size of your business, i.e. turnover in the previous fiscal years.
Application to the RCMC
To join EPC, an exporter should send a prescribed application format. Following that, after being admitted to membership, certificate is granted the relevant EPC. An exporter must provide evidence in order to be registered as a manufacturer/exporter. Prospective or potential exporters can also apply to become associate members of the EPC. For the aforementioned purpose, an application
must be filed in a specific format and include the following documents:
(a) For Registration-cum-Membership, an application form containing product details is required.
(b) A RCMC-certified copy of the Import Export Code of the licensing authority (IEC).
(c) A copy of a bank certificate to confirm the applicant’s financial stability.
(d) SSI/IEM certificate is required for registration as a Manufacturer Exporter.
(e) A statement about the impact on exports and imports in the previous fiscal year.
(f) In the event of corporations, a copy of the Memorandum and Articles of Association, whereas in the event of partnership firms, the partnership deed.
Required Documents for RCMC
- RCMC application form ANF 2C, completed and signed.
- IEC Number assigned to the export entity applying.
- PAN Card
- In the event of Private limited and Limited Companies, the Memorandum and Articles of Association
- In the event of Partnership Firms and LLPs, the Partnership Deed
- In the case of trusts, a trust deed
- RCMC of Registered Officer issued by the Registrar of Companies for Companies
- Certificate of GST registration
- Three years of service export data certified by the
- exporter’s Chartered Accountant should be submitted in the event of an existing
- service exporter.
- If the signing authority’s name does not appear in the IEC/MOA/Partnership Deed/Trust Deed , etc , Power of Attorney or a self-certified copy of the Board Resolution issued in his or her best interest should be made available.
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