Import Export Code (IEC) Registration
- Cross-selling of goods and/or services from India necessitates Import Export Code (IEC) registration. When importing or exporting goods or services from or to India, all importers and exporters must provide their Import Export Code.
- IEC is a ten-digit code and Import Export License Certificate granted to Indian companies by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. The DGFT is in charge of regulating international commerce in India. The governmental entity, which is part of the broader Ministry of Commerce and Industry, is in charge of the creation of trading policies, the regulatory framework, and the issuing of licenses.
- The IE code is a requirement for any commercial importer or exporter. Without this code, no business may be conducted in the import-export category, nor can the government’s advantages in this sector be accessed. Furthermore, the Reserve Bank of India (RBI) has mandated that all merchants provide their IE Code while making a payment transfer or transferring money abroad. Before processing a consignment from abroad, the Customs Department will additionally need an IE code.
- Once granted, an Import Export Code can be used by the entity indefinitely without the need for renewal or filing. Once the firm has received IEC, it will be able to carry out all of its import and export obligations without any problems.
IEC is required in the following situations:
- If the organization or company intends to engage in any import/export activity. Organizations or businesses cannot conduct import/export activity without IEC.
- Organizations or businesses can obtain various benefits and/or subsidies from the DGFT, Customs, and the Export Promotion Council on their import and export.
- To clear or dispatch his cargo through customs, the customs officials or customs port requires it.
- If an importer intends to transmit money outside of India through his bank, the bank will require it.
- When an exporter gets money in foreign currency directly into his bank account, the bank requires it.
Process of IEC Registration
- Choose the required service
- Fill up the application form
- Upload the required documents
- Make an online payment
- The Executive will process the application
- You will receive the certificate via e-mail
Why should you choose Corproots:
- You will get a call back from our experts
- We provide all India Online Service
- Free expert counseling
- All IEC Services at one-stop
- Filing of the application at the earliest
We, at Corproots, strive to make your work easier in the development of your business. For details regarding the registration of your company’s Import-Export code, contact our experts right away!
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