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AD Code Registration
Apply AD Code registration hassle free. Start your exports business, as our professionals can assist you to get AD Code registration for Indian ports.
What is AD Code Registration?
For starting an Import and Export business in India, you must have two registrations as per Government regulations. One is IEC Registration, and another one is AD Code Registration. Without these two registrations, you can not start an import-export business in India. The AD Code is required for customs clearance of your Goods.
An AD( Authorised Dealer) Code is a 14-digit number issued. The purpose behind the AD Code is to ensure that foreign currency transactions in an exporter’s current account are from a legal channel or not.
AD Code registration is required for each port separately for custom clearance of export or Import of Goods.
AD Code is provided by the bank where he holds the business or current account. AD Code is printed on the bank’s letterhead in the set format as prescribed by the Directorate General of Foreign Trade (DGFT). The bank which is authorised to grant AD Code must deal with foreign currency. Registering AD Code at the port where goods are sent for custom clearance is mandatory. Without port registration of AD Code, the shipping bill number will not be generated, which is a must for the export of goods.
Benefits of AD Code Registration
Following are the various benefits of obtaining AD Code:
1)It assists in developing business and reaching out to a bigger market at the global level. It allows the business to flourish at a rapid pace.
Obtaining an AD Code is a one-time process. It means there is no requirement to submit any returns.
2)The AD Code is valid till the existence of the business of its holder. So, there is no requirement to renew it.
3)Based on the AD Code, the businesses receive multiple incentives for their imports or exports from the Directorate General of Foreign Trade, Export Promotion Council, Customs and several other Government Departments.
4)It is one of the crucial documents to be submitted for export customs clearance. Without it, one cannot produce a shipping bill on ICEGATE, the Indian Customs Electronic Data Exchange Platform.
5)AD Code allows transferring credit to the trader’s current account directly.
6)Any Government advantages one wishes to avail of are credited straight to his current account if he has an AD Code registered custom.
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If you need legal advice or representation for your business, we are here to help. Contact us today to schedule a consultation with one of our experienced attorneys.
Required Documents for AD Code Registration
Following are the documents that you need to have for the AD Code.
1)Bank’s AD Code authorization letter in Annexure-A (original)
2)Exporter’s letter on letterhead requesting/authorizing the registration of AD Code
3)Customs broker’s letter on letterhead requesting AD Code registration
4)GST registration certificate
5)Import-Export Code License
6)PAN Card
7)Export House Certificate (if any)
8)Manufacturing Licence (if any)
9)PAN, Aadhaar and Voter ID/Passport of the owners
10)Organizational Class 3 DSC
11)Individual DGFT Class 3 DSC
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