Import Export Code

The Registration processes done by your own can be tough and consume your more time, so here is MK Consultancy which will help you Import Export Code registration processes within a less time..

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About Import Export Code

The Registration processes done by your own can be tough and consume your more time, so here is MK Consultancy which will help you to do all the registration processes within a less time span. After submission of all the legal documents required for the registration process, we take the responsibility to provide you the Import Export Code. And all processes are done online easily. The whole information of the Import-Export Code is given below, you can read it and may get sufficient knowledge about the Import Export Code.

What is meant by Import Export Code?

If your business consists of import-export of products and goods in India, then it is mandatory to have the Import-Export code which is of 10 digits issued and authorized by the Directorate General of Foreign Trade (DGFT) which is authorized by the Government of India. The abbreviation of the Import-Export Code is IEC which is abbreviated many times and the validity of the IEC is a lifetime so no need to renew the IEC code. So the Import Export Code is necessary to all the businesses doing import and export of the products and goods.

Characteristics of Import Export Code:-

We should know about the legal rights of importing and exporting of products and the characteristics of the IEC code is followed below which will help you to know all the rights of running an Import-export business.

  • The IEC code helps to generate the revenue done by the import or export of the product.
  • The IEC code is mandatory for all the businesses that do the import or export of the products and goods.
  • The validity of the IEC code is a lifetime so it does not need the renewal of the code.
  • To get the IEC code it does not necessarily require to have an established business so the code can be obtained by any property owner in their own name.

The Rajstarup is a leading and reputed company which have served more than 10,000+ entrepreneurs the Import-Export Code

What are the benefits of the Import-Export Code?
  • The IEC code is beneficial for businesses such as importing and exporting of the products and goods. And it also opens the International Market and you can export your products to the international market legally and scale your business to various countries and create your brand entity in the other countries.
  • The Import Export code does not need renewal and would be used for a lifetime.
  • Organizations can also claim tax benefits for exporting the products to other cities and countries. and various benefits can be availed from the Directorate General of Foreign Trade (DGFT).
  • It is a genuine and hassle-free process and the IEC code can be acquired within 10-15 days from the Directorate General of Foreign Trade (DGFT).
When you will need the IEC code?
  • The IEC code will need when the importer needs to clear his shipments by the tradition experts.
  • At the point when the importer sends money to the other countries through banks then an individual would need the IEC code.
  • When the exporter needs to send his shipments then the IEC would be required by the tradition port.
  • The IEC is also required when an exporter receives foreign currency in his bank account.
Cases where you would not need the Import-Export Code?
  • If the organization importing and exporting their products and goods have registered to the GST (Goods and Services Tax) then as per the latest circular passed by the Government of India, the organization can use their PAN card as a new Import Export Code for importing and exporting the products.
  • The charitable organizations do not require IEC code and the organization will not require IEC code unless and until it imports the goods for commercial use.
Needs of the Import Export Code:-
  • For the customs clearance, the Importer will need the Import Export Code.
  • For the FSSAI License and APEDA License, the Import-Export code will be required.
  • In the case of sending and receiving foreign currencies, the bank requires Import Export Code License.
  • For the Export subsidy, the exporter would need the Import Export Code.

PROCESS OF REGISTRATION Import-Export Code

 

APPLICATION FORM

E-MAIL YOUR DOCUMENTS

MAKE PAYMENT ONLINE

GET YOUR IEC CERTIFICATE

DOCUMENT REQUIRED for Import-Export Code

 

PASSPORT SIZE PHOTOGRAPH


PAN CARD


ADDRESS PROOF


BANK ACCOUNT DETAILS PRE PRINTED CANCEL CHEQUE,

FEW OTHER IMPORT EXPORT FACTS

01

Importers Require IE Code ?

All Importers who import goods into India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad..

02

No Return Filing ?

IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT..

03

Proprietors can have IE Code ?

Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code..

04

Exporters Require IE Code ?

All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad..

05

Lifetime - NO Renewal ?

IE Code is issued for the lifetime of the entity and requires no renewal. So once a IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles..

06

What is the penalty for not having IE Code?

IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import / export will not be possible without an IE Code..

FAQ ( Frequently Asked Questions )

The IEC code can help the businesses to get the legal rights to import and export the products and also get benefits from the Government.
According to the latest circular of the Government of India, one can use his PAN card if he has registered for GST(Goods and Services Tax).
The IEC code is delivered to the given address by speed post.
No, Only one IEC code can be registered using a single PAN card.
No, there is no tax levied or applied on the IEC code and the customs duty can be levied by the tax.
If the individual has applied online for the IEC code then he can log in by his username on the IEC portal and can download the IEC code and if he has applied offline then he has to repeat the procedure again to get a new IEC code.
The MK Consultancy is a trustworthy and genuine place where anyone can apply for different certificates and registration and we will offer you many services at an affordable price and also help you to grow your business online.
Yes, MK Consultancy can provide the IEC registration in Delhi as well as all over India and you have to just consult us online.
MK Consultancy serves many services to the clients and you can check the about page for more services.
Yes, the IEC code has a Lifetime validity and does not have a need to be renewed.
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