Import Export
An Import Export code is one of the unique ten-digit codes required by every Import or Export business owner in the country. The code is issued by the director general of the foreign trade Ministry of Commerce and needs no renewal or filing. If you are running an Import-Export business, you must go for Online IEC Registration. IEC Is required by the importers to clear the customs and shipment and to transfer money to foreign banks. Exporters need IEC to send the shipments and receive money from foreign banks. In simple terms, exporters or importers cannot operate in India without getting IEC.
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Benefits of IEC Registration Services
You need to submit the following documents if you are an employee
- The IEC Registration helps the traders to open the doors to venture into the global market like registration in the online eCommerce operators.
- Companies can make the most of the government schemes, including merchandise export from India scheme, the service export from India scheme and others from the customer export promotion.
- Maintaining the business is very simple with this, as there is no requirement for compliance.
- The best of all is that you can quickly get IEC without going through any hassle. You just need to submit your essential documents, and you are good to go
Documents required to Apply Import Export Code
The documents required for the EC registration are pretty easy to get together. You just need some of the documents mentioned here
PAN card of your company
PAN card of the applicant and the aadhaar card
Incorporation certificate or the partnership deed
Address proof
Copy of the cancelled cheque
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How to register for IEC?
You can always choose an Import & Export license consultant like us who can help you with the registration.
Firstly you have to submit all the required documents like the bank details.
Then you have to offer the EC application form, which would be filled with the directorate general of foreign trade.
Once the documents and application are verified by the concerned authority, the import-export code will be granted to you in a soft copy manner.
Eligibility
Anybody can apply for the IEC code provided they are a business or sole proprietorship, private limited, charitable organization dealing with important exports of goods. Irrespective of the size, you have to register. But you have to know that IEC is not required for you if you are importing or exporting goods for personal use, and there is no connection with a trade, agriculture or manufacturing. In short, there is no need to set up the business.
There are some exemptions of IEC, like ministries or departments of the central and state government. Through indo Myanmar border areas and China, the parties are the individuals for importer exports goods to or from Myanmar and Nepal with a single consignment should not go above 25,000 INR.
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