Question

Write short note on formalities involved in getting export license.

Answer 1

There are a number of important formalities attached to getting an export license. the first step includes getting a bank account which is authorized under the reserve bank of India.

Then you would have to acquire your personal account number for the later transactions.

The second step involves getting an Import Export Code or IEC from the DGFT.

You would then have to register with the right kind of export promotion council.

Answer 2

Explanation:

There are a number of important formalities attached to getting an export license. the first step includes getting a bank account which is authorized under the reserve bank of India.

Then you would have to acquire your personal account number for the later transactions.

The second step involves getting an Import Export Code or IEC from the DGFT.

You would then have to register with the right kind of export promotion council.