Obtaining Export License

Q.

Discuss the procedure related to excise clearance of goods.

Q.

Why is it necessary to get registered with an export promotion council?

Q.

Discuss the formalities involved in getting an export licence.

Q.

What is IEC number?

Q.

Which of the following document are not required for obtaining an export license?

(a) IEC number

(b) Letter of credit

(c) Registration cum membership certificate

(d) Bank account number

Q.

List the codal formalities to obtain IEC No.

Q.

Discuss the procedure related to excise clearance of goods.

Q.

Discuss the formalities involved in getting an export licence.

Q.

The Import Export Code is issued by the Regional Licensing Authority.

1. True

2. False

Q.

Why is it necessary to get registered with an export promotion council?

Q. Exporters get various benefits in the form of subsidies. To avail these subsidies they have to show issued by appropriate authority.

1. IEC
2. RCMC
3. ECGC
4. COD

Q.

Give the full form of ECGC and mention its objective.

Q.

Why does an exporter register with the ECGC?

1. To protect overseas payments from commercial risks.

2. To protect overseas payments from political risks.

3. None of the above

4. To protect overseas payments from commercial and political risks.

Q. Registration with is necessary to protect overseas payments from political and commercial risks.

1. IEC
2. RCMC
3. ECGC
4. COD

Q.

Who can issue the Registration Cum Membership Certificate?

1. Export Promotion Council

2. Federation of Indian Export Organization

3. Export Development Authority

4. All of the above

Q. Write short notes of the following.

Formalities involved in getting export license?

Q.

Why is it necessary to get registered with an Export Promotion Council?

1. obtaining RCMC helps to avail benefits offered by the importer to export firms

2. obtaining RCMC helps to avail benefits offered by the government to export firms

3. obtaining RCMC helps to avail benefits offered by the importer's government to export firms

4. None of the above

Q.

What is IEC?

1. International Export Code

2. International Excise Code

3. Import Export Code

4. Import Excise Code

Q.

What is an export license?

1. Grant permission to buy from abroad

2. Grants permission to conduct exporting transaction

3. Grants permission to import

4. None of the above

Q.

An exporter needs to register with___ to get the export license.

1. Export Promotion Council

2. Regional Licensing Authority

3. None of the above

4. Export Credit Guarantee Corporation

Q.

Does Export Credit Guarantee Corporation help exporters with financial assistance?

1. Yes

2. No

Q. Before starting the export procedure, the exporter has to get an number.

1. IEC
2. RCMC
3. ECGC
4. COD

Q.

Import Export Code is received ___ days post the application, that's the minimum time it takes.

1. 12

2. 7

3. 9

4. 10

Q. Which of the following organisations provides guarantee to the exporters?

1. Exim Bank
2. Director General Foreign Trade
3. Export Credit Guarantee Corporation
4. Reserve Bank of India

Q. What is the full form of the term DEPB?

1. Development, Export and Procurement Bureau
2. Developmental Enterprises Promotion Board
3. Duty Entitlement Pass Book
4. Duty Enforcement and Promotion Board