RCMC Registration
The RCMC (Registration Cum Membership Certificate) is an authorization document for importing or exporting restricted products according to the Foreign Trade Policy (FTP). Typically, the Export Promotion Councils (EPCs), Commodity Boards, and Export Development Authorities established by the Director General of Foreign Trade (DGFT) for each restricted product issue this certificate.
Moreover, it functions as proof of membership or registration of an exporter with a specific EPC, commodity board, or export development authority. The RCMC is essential to benefit from concessions provided under the FTP for importing or exporting restricted goods.
IndiaFilings, as a professional service provider, can assist businesses in obtaining RCMC registration online quickly and efficiently. We have years of experience handling RCMC registration process and can provide end-to-end support to our clients.
What is RCMC Certificate?
Importers and Exporters must be aware of what is RCMC certificate. RCMC full form stands for Registration-Cum-Membership Certificate. The RCMC certificate validates an exporter dealing with products registered with an agency or organization authorized by the Indian Government. This certificate of RCMC meaning indicates that the exporter is registered with the authorized agency or organization.
Why RCMC Registration?
The RCMC registration process online serves several purposes.
- Firstly, it authorizes importing or exporting products that fall under the restricted category per the Foreign Trade Policy (FTP).
- Secondly, it is evidence of membership or registration of an exporter with a specific EPC, commodity board, or export development authority.
- Thirdly, it is required to take advantage of concessions provided under the FTP for the import/export of restricted goods.
Eligibility for RCMC Registration Online
Exporter or Merchandiser (Merchant)
Before applying for RCMC registration, the exporter or merchandiser must confirm that their business deals with imports and exports. This is one of the key requirements for starting a manufacturing company in India. Additionally, the exporter must prove they have applied for an Import Export Code (IEC) from the authorized authority. The DGFT (Director General of Foreign Trade) regulates the IEC.
Business Main Line Declaration
In the Business Main Line Declaration, the exporter or merchant must specify their primary business line. For instance, if their main business is dealing with coffee and tea products, they need to consult the Tea and Coffee Promotion Board. In case there is no export promotion board or regulatory agency for the commodities dealt with by the exporter, this needs to be mentioned as well.
Consent from the Board of the FIEO
The applicant must obtain the necessary board permission or clearance from FIEO. If no specialized board is available for a specific product, the applicant needs to apply for approval to FIEO. In addition, obtaining FIEO authorization is also required for RCMC registration online.
Benefits of Registration-Cum-Membership Certificate (RCMC)
Obtaining a Registration Cum Membership Certificate (RCMC) offers several benefits to exporters. Some of these benefits include:
Access to export promotion schemes
RCMC is a mandatory requirement for availing export promotion schemes and benefits such as Duty Drawback, Merchandise Export from India Scheme (MEIS), and Market Access Initiative (MAI).
Facilitation in import and export
RCMC makes it easier for exporters to import or export restricted goods as the certificate validates the exporter's authenticity and products' authenticity.
Easier customs clearance
RCMC reduces the time and effort required for customs clearance as it proves the exporter's membership with a recognized authority and their compliance with government regulations.
Enhances credibility
RCMC enhances the credibility of the exporter as it is a testament to their compliance with government regulations and standards.
Access to market information
RCMC enables exporters to stay updated with the latest market information and developments through export promotion activities and programs organized by Export Promotion Councils and Commodity Boards.
Validity of RCMC
The RCMC remains valid starting from the issuance date on the 1st of April of the licensing year and is valid for five years, concluding on the 31st of March.
5 Year Validity
From 1st April of issuance year to 31st March after five years