India has been on the international market for spices export and has had a place on the world economic map for centuries. The Indian spices export business has been one of the most thriving businesses and the pandemic has helped it even more. It was reported in December 2020that there was 19% increase in the export of spices from India. (India’s spices exports grow 19% during the first half of FY21 | The Financial Express) Are you looking to start your own Spice export business? Here, Chennai Accounts listing all mandatory things you will need to carve your name on the Spice export map.
1. Digital Signature Certificate
In the era of digitisation, digital signatures are the way forward. Are you wondering, what are digital signatures? As the name indicates, it is the digital option to signing with a pen, it also has a lot more information for example the origin of the message and better authentication. Digital signatures are widely accepted in the place of hand signatures.
Digital signatures are created with a mathematical algorithm that is unique to each person. With the algorithm a private key and a public key are generated. This makes the digital signature tamper proof and authenticates the signatory. It is certified by an authority. The digital signature comes on a pendrive with a PIN number that is used as the security code.
Since many transactions are digitised, getting a Digital signature for the Authorised Signatory is mandatory. There are specialists who are certified to provide the digital signature, Chennai Accounts, Chennai’s leading Digital Signature Certificate Consultant who can help you get your unique digital signature certificate.
2. Import Export Code
For any kind of business that involves export from India or import into India, this is the most important business identification number. This is known as Importer-Exporter Code (IEC). Without this code, it is impossible to engage in any kind of export- import. So what is this IEC Code? This code is issued by the Directorate General of Foreign Trade based on online application. Any business applying for the IEC Code should produce their PAN, Bank details and a registered address proof. The IEC Code should be in the name of the business. A 10 digit code with a life-time validity will be allotted upon approval of the application. Consequent to the introduction of GST, IEC has been introduced, it is the same as the PAN of the firm. The nature of the firm obtaining an IEC may be any of the follows- Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society. Presently the certificates that are issued come with QR Codes that can be verified online.
To make an error free application, Chennai Accounts can help you with the online application process.
3. APEDA Registration
APEDA is an acronym that stands for Agriculture and Processed Food Products Export Development Authority. This is yet another mandatory registration for all agricultural products export businesses for authentication of the business. Anyone with the APEDA registration can be enlisted in the Exporters Directory of the Government Authority. Upon submitting an application with the APEDA, the exporter will receive what is called a Registration cum Membership certificate with a validity of five years. This certificate is issued by the Export promotion Council.
You will need to submit the following documents online for the registration process along with the Application Form signed using the Digital Signature
- A Self-attested copy of IEC Code issued by the Directorate General of Foreign Trade.
- Firm’s bank details and a Certificate from the bank signed by the concerned authorities.
- Account statement of the firm’s bank account (2 months).
- Cancelled Cheque
APEDA registration has an application fee (Rs. 5000+GST) that can be paid online as well. You can do the application on your own following the instructions on the website or take the assistance of experts in the field such as Chennai Accounts for submitting your APEDA application.
4. FSSAI Central License
All Food exporters need to get the FSSAI License for Export from the Food Safety and Standards Authority of India (FSSAI), this is to ensure that the food that is exported / imported is safe for human consumption and in compliance with both quality and labelling norms and regulations of the destination country. For export and import, it is compulsory to apply for central license irrespective of turnover. To obtain an FSSAI Export License you will need to submit your IEC Code provided by the Directorate General of Foreign Trade.
Obtaining FSSAI Central License for Export there are multiple formalities and regularities which needs to be done. You can do it yourself by applying on the FSSAI website or contacting experts at ChennaiAccounts. Here, we guide you from the start of a service to its end..
5. Spice Board Registration
The Spice Board is an export promotion agency that approves exporters of Spices. The Spice Board Registration is also an online application for which you will need the following documents
- PAN Number’
- GST Registration Certificate
- IEC Code Certificate
- Bank details and Bank certificate
- A photo
The fee for the registration can be paid online as well.
Chennai Accounts is a one stop destination for advice and assistance for your Spice Export Business. We assist you in getting the license and spice board registration for the business. Chennai Accounts also provides other services such as all type of Business Registrations like GST, FSSAI, MSME, Trademark, Company Registrations, Income Tax Return Filing, etc.
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