Ad code letter

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

19 January 2015 Do we need a AD code letter for re-export the goods (for repairing. Please suggest.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

19 January 2015 An IEC code is obtained to operate as an exporter/importer in India. Once an exporter or importer obtained an IEC – Import Export Code, he can export or import goods as per the terms and conditioned under IEC which is attached to Foreign Trade Policy of Government of India.

You can export or import from all port in India. However, the respective ports have to be mentioned as ‘branch’ in IEC . While filling up the column ‘branches’ of your firm, you need to mention the ports, you are going to operate your transaction. Accordingly, DGFT updates your IEC by mentioning ‘branch code’. When you start an operation with a new port which you have already included ‘branch code’, the ‘AD code registration’ is required to be completed with customs department. Authorized Dealer Code (AD code) is a letter received from your bank mentioning the bank’s authorized dealer code which is provided to each bank all over country.

So, if a branch code is mentioned in the Import Export code, with Director General of Foreign Trade (DGFT), you can import or export through the said port. If you have not mentioned the same at the time applying IEC, you can update as and when you require.

Once you obtained IEC if you intend to do export or import, you need to register your IEC and Authorized dealer code details with the port through which you are exporting or importing. If you are going to export by sea, you need to register with sea port customs and if by air, with airport customs also. You can appoint a customs house agent to get the job done on behalf of you.

Along with the Authorized AD code letter received from your bank though which you are going to transact your foreign trade; you need to attach a copy of IEC with a covering letter on your letter to be applied with customs officials. The customs officials normally finish these formalities within an hour.

Hope, you will understand the matter otherwise tell me if you are not agreed.

Querist : Anonymous

Querist : Anonymous (Querist)

19 January 2015 Thanks, Doubt is cleared

Upgrade to CAclubindia Pro. Subscribe Now!