AD CODE REGISTRATION
Why Choose us ?
The AD Code, short for Authorised Dealer Code, is a crucial component for exporters in India, issued by the bank where the exporter has their current account. This code is a 14-digit numerical code that is assigned by the bank and registered with the Indian Customs Department. The AD Code is specifically used in the context of export transactions to uniquely identify the bank branch involved in the export. It facilitates smooth foreign currency transactions associated with export activities, such as receiving foreign currency payments and availing export benefits from customs.
Purpose of AD Code Registration
Foreign Currency Transactions: The AD Code is used to credit the export proceeds into the exporter’s bank account.
Customs Clearance: It is essential for customs clearance of export goods, as it helps in verifying the financial credentials of the exporter.
Export Incentives: Necessary for availing various export incentives provided under Foreign Trade Policy (FTP) by the Government of India.
How to Register an AD Code
Step 1: Open a Current Account
Before you can obtain an AD Code, you must have a current account with a bank that is authorized to deal in foreign exchange.
Step 2: Application for AD Code
Request your bank to issue an AD Code. You will need to provide essential documents such as a letter on your company’s letterhead requesting the AD Code, GST certificate, PAN card, import export code (IEC), and any other documents as required by the bank.
Step 3: Issuance of AD Code
Once the application is submitted along with the requisite documents, the bank will process your request and issue the AD Code specific to the branch where your account is held.
Step 4: Registration with Customs
After receiving the AD Code from your bank, you need to register this code with the Customs authority at the port(s) where you are planning to ship your goods. This involves submitting the AD Code letter obtained from the bank to the customs authorities.
Step 5: Linking with IEC
The AD Code must be linked with your Import Export Code (IEC). Ensure that the details like the name and address in the AD Code match with those in the IEC.
Documents Required for AD Code Registration
- Letter requesting AD Code issuance (on company letterhead)
- Copy of the Import Export Code (IEC)
- GST Registration Certificate
- PAN Card of the company
- Any additional documents as requested by the bank
Points to Note
- Multiple Ports: If you are exporting goods through multiple ports, you need to register the AD Code at each port.
- Validity: Generally, once registered, the AD Code does not expire unless there are changes in the bank details or the bank itself revokes it.
- Updating Information: Any changes in your company’s banking details or official information should be updated with both the bank and customs to avoid discrepancies in export documentation.
Registering an AD Code is a fundamental step for exporters in managing and facilitating their export-related transactions. It helps in ensuring that the financial transactions related to exports are streamlined and that exporters can avail themselves of various benefits offered under the trade policies of India.
JACS SHIPPING PRIVATE LIMITED
Jacs Shipping Pvt Ltd comes into existence in 2019 and started the operation from Ahmedabad. Started the service in the field of Import / Export / Custom Clearance, Freight Forwarding and Warehousing. It is an asset based company with own offices, fleet of transportations, equipment and own CHA License.
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