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Import Export Code

Import Export Code

What is Import Export Code ?

Import Export Code (IEC) is required by a person who’s want to start import export business in india. IEC Code is issued by the Director general of foreign trade(DGFT). its a 10 digit code with a lifetime validity. Mostly importers merchant can’t import any goods without the IEC Code and exporter merchant can’t avail the benefits from the DGFT Department for the export scheme etc. Its helps you in following way –

Import Export Code is required in following situation :
  • When importers have to clear the shipments from the customs then it’s required by the customs.
  • When importers send the money to abroad via banks then it’s required by the banks through SWIFT Code.
  • When exporters have to send the shipments then its required by the customs port.
  • When exporters received the money in foreign currency directly into the bank then its needed by the banks.

Features of Import Export Code

Any person or business claiming to be owner can apply for a trademark including :

  • Business growth Taking your service or product to the international market will enlarge your business. IEC enables you to sell products outside India.
  • Export Subsidies On the basis of IEC, companies or firms can benefit and subside their export/ import from DGFT, Custom and export promotion council.
  • Lifetime validity Once you are done with IE Code Registration and submit all the required documents, IE Code is issued for the lifetime of the entity and require no renewal.
  • No Return Filing IE Code does not require, filing of any returns. Once, an IE Code is issued, there are no further procedure.
  • Individuals can have IE Code Even individual who are proprietor of a business can obtain IE Code in their name. It is not necessary to incorporate business entities for obtaining IE Code.

IEC Documents In Respect Of Individual / Proprietor / Partner / Director

  • Copy of PAN Card
  • Passport size photograph
  • Copy of Aadhaar Card/ Voter identity card
  • Authorization letter (In case of Partnership)
  • Authority from other Directors on letter head (In case of company)
  • Copy of Partnership deed (In case of Partnership)
  • Board Resolution/self declaration (In case of Company)
  • Telephone Bill in the name of the Individual (In case of individual)
  • Cancelled cheque of individual

IEC Documents In Respect Of Entity

  • Copy of PAN Card firm/company
  • Copy of Property papers (If owned property)
  • Copy of Rent agreement (If rented property)
  • Landlord NOC (Format will be provided by us)
  • Cancelled cheque of firm
  • Electricity/ water bill (Business Place)
  • Telephone Bill in the name of the business
  • Copy of Service Tax returns (In case of Proprietorship)
  • Certificate of incorporation (In case of company)
  • Bank statement of firm/company
  • AOA and MOA (In case of company)
  • 1 letter head of company (In case of Company)