Since the dawn of human civilization, spices have been employed in food to enhance flavour. Apart from culinary uses, spices are considered valuable for more reasons, as they have a lot of room for financial gain, particularly in regards to exporting. In this blog, we shall go in – depth on the benefits associated with the Spice Board registration and how it can open up countless options.
Role of the Indian Spice Board
- In India, the main organisation responsible for the development and international promotion of Indian spices is the Spices Board (Ministry of Commerce and Industry, Government of India).
- The Board serves as a bridge between worldwide importers and Indian exporters. The Spice Board Act of 1986 permitted the establishment of the Indian Spice Board in the year 1987.
- The Spice Board is in charge of monitoring the 52 other spices mentioned in the Schedule of the Spice Board Act, 1986.
Who needs to register for spice board registration?
According to government regulations, any company that exports any of the below listed 52 spices, whether as a merchant or a manufacturer, must register with the Indian Spice Board.
What are the spices included in the Spice Board Act ?
As of July 2023, there are 52 spices included in the Spice Board Act of 1986. They are:
- Chilly
- Celery
- Cinnamon
- Curry Leaf
- Bishops weed
- Fennel
- Horse-Radish
- Thyme
- Fenugreek
- Coriander
- Mint
- Oregano
- Dill
- Pepper
- Cardamom
- Ginger
- Turmeric
- Cumin
- Aniseed
- Caraway
- Asafetida
- Cassia
- Mustard
- Parsley
- Pomegranate Seed
- Saffron
- Pepper Long
- Star Anise
- Sweet Flag
- Greater Galanga
- Sweet Flag
- Caper
- Clovea
- Cambodge
- Hyssop
- Juniper Berry
- Bay leaf
- Lovage
- Marjoram
- Sage
- Tarragon
- Vanilla
- Mace
- Basil
- Nutmeg
- All-Spice
- Rosemary
- Savory
- Tamarind
- Tej Patta
- Poppy Seed
- Kokam
What are the advantages of Spice Board Registration?
Businesses can enjoy various advantages by registering with the Indian Spice Board. Some of the major advantages of registering with the Spice Board include:
- Eligibility for government schemes
- Business credibility
- Global recognition of your business
Eligibility for government schemes:
Being registered under the spice board makes you eligible for government programs and incentives. The Spice Board regularly announces programs to encourage the export of spices, facilitate loans, grant subsidies, and provide funding for R&D. Businesses can only gain access to these advantages if you register, which gives you a considerable competitive advantage.
Business credibility:
Another advantage of registering with Spice Board is Business Credibility. Being a registered member of Spice Board also gives your company credibility and reliability. It demonstrates your dedication to compliance and quality, giving potential customers the confidence they need to choose your brand over rivals. It serves as an authenticating mark that distinguishes you in the very competitive spice market.
Global recognition of your business:
You can make your business achieve recognition worldwide by registering with the Indian Spice Board. Being associated with the Spice Board, a reputable organisation in the spice sector, can help to increase your reputation and distinguish your business from other competitors in the market.
How can registration with Indian Spice Board be helpful to spice businesses?
A spice business registered with Indian spice board can be helpful in the following ways:
- Obtaining Spice Board Registration can elevate your brand’s perceived value in the eyes of your target market and boost your credibility with customers.
- It aids clients in choosing the best exporter or provider for their specific business needs.
- It facilitates the development of relationships between various importers and exporters.
What are the registration fees?
The charges for registration with Indian Spice board as well as the renewal process is given below:
|
Type of registration |
Merchant |
Manufacturer |
| Renewal process | Rs. 8,850/- (Rs. 7,500 + 18% GST) | Rs. 11,800/- (Rs. 10,000 + 18% GST) |
| New registration process | Rs. 11,800/- (Rs. 10,000 + 18% GST) | Rs. 17,700/- (Rs. 15,000 + 18% GST) |
| Our service fee | Rs. 2,500 + 18% GST | Rs. 5,000 + 18% GST |
For more details on registration and renewal process, get in touch with Chennai Accounts here.
What is the validity of CRES (Certificate of Registration as Export of Spices)
- The CRES certificate is valid for a three year block period.
- Anyone who wants to renew their Certificate as an Exporter must submit an application for spice board renewal one month before the complete expiry.
- Any applications submitted after the specified deadline are considered invalid.
- Those applicants who fail to renew their licence on time are required to apply after their certificate expires for a new licence or registration.
Final thoughts
In summary, Spice Board Registration is a doorway to a world of limitless opportunity and development. It broadens your customer base, assures quality control, creates opportunities for networking and knowledge exchange, gives you access to market intelligence, provides government assistance, and improves the popularity of your brand. Register with the Spice Board right away with our assistance to spice up your company for an amazing voyage of expansion!
Frequently Asked Questions (FAQs)
1. Whom can I consult for spice board registration in India?
You can simply get in touch with Chennai Accounts, and we will take care of the spices board registration procedure easily and provide you the CRES certificate swiftly after the registration.
2. What is the validity of Spice Board Certificate validity?
The CRES (Certificate of Registration as Export of Spices) is valid for three years from the issuance of the Certificate. The certificate expires after three years and has to be renewed at the end of the third year. In this regard, if you require assistance, you can contact Chennai Accounts to renew your registration quickly.
3. How can I renew my CRES Certificate of Registration as Export of Spices?
If you wish to renew your Spice Board Certificate, you can contact Chennai Accounts and we will proceed with the renewal process immediately.
The post Advantages of Spice Board Registration: Unlocking Opportunities for Growth appeared first on Accounting Services | GST Registration | GST Filing | Income Tax Filing | Payroll - Chennai Accounts.
