WHAT IS IMPORT EXPORT CODE??

            

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• IT is an Import –Export 10 digit code required by those who are doing import/export business.

• IEC is a mandatory requirement and no person shall make any import or export without the IEC number.

• IEC can be obtained with a set of rules and regulations to be complied.

• Custom authorities mandatorily ask for  IEC no at the time of :

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1. When importers have to clear their shipments.

2. When importers have to send the payments.

3. When exporters have to send the shipments.

4. When exporters have to receive the funds.

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• Only one IEC can be issued against one PAN.

• IEC Number allotted to applicant shall be valid for all its branches wherever the business is located.

• The nature of the firm obtaining an IEC may be any of the following: Proprietorship, Partnership, LLP, Limited Company, Trust, HUF and Society.

• It is issued by DGFT, Ministry of Commerce and Industries, Government of India.

 

                   

       BENEFITS:

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• It helps you in expanding your business worldwide.

• IEC code has a validity of lifetime.

• No renewal is required for IEC Code.

• Filing the Application is simple.

• Benefits of this scheme are in the form of subsidies declared by customs or claim refunds of tax paid.

• Business receives great opportunities to unlock the international market expand their products, hence opens door for growth & Expansion.

 

Time Required :

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As it is a PAN based registration, after the filing the application within 48 hours department sends the certificate on email.

 

OUTPUT DOCS :

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-Import Export Code (IEC) Certificate generated by Director General of Foreign trade(DGFT) Authority.

- A copy of application which was submitted with the department.

 

GOVERNMENT COST :

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The government cost may vary from state to state.If any modification is needed to be done then also certain costs apply.

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LIST OF DOCS REQUIRED:

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1. Two color Photographs of Promoters/Individuals/Company Director

2. Pan card of Each Share holder and director

3. Identity Proof( Voter Id/Driving License/Passport)

4. Address Proof(  Bank Statement/Electricity bill/ Mobile , Telephone bill

5. Proof of Registered Office

6. Aadhar card

7. If a premise is rented, rent agreement along with no objection certificate is required.

8. Cancelled cheque