20 Sep 2015
Import export code (IEC) is a unique 10 digit code issued by governing bodies like director General of foreign Trade, government of India and ministry of commerce. Import and export code is strictly necessary for making any import and export in and from the country by any person or entity.
Import export code registration does not require any renewal, thus once obtained it stays with you for lifetime. Therefore, it is recommended for any organization or person to obtain an import export code even they don’t require it at the moment.
To obtain an IC code registration, an application needs to be made to Directorate General of Foreign Trade along with other necessary documents. After submitting the application to the DGFT, the IE code will be generated to you in 15-20 working days.
The Process of Import Export Code Registration
You can hire any tax expert to fill the IE code registration application according to the prescribed format and will help you in preparing the required documents to be attached. Once the application is filled, you need to add your signature at the desired place in the application.
After the application is duly prepared by the person, the application will be submitted to the DGFT for processing and further allotment of import export code.
Thereafter, the attached documents and application is verified. Once verified correctly, the directorate General of Foreign Trade will allot an IE code to the business.
Documents to Be Attached
Export/import cannot be made without a proper import export code. However, exceptional can be done if the value of goods involved in the deal is low. In that case, the concerned officer might allow the export for the first time by simply imposing penalty charges.
It is thus necessary that you hire import export consultants in Delhi for detailed insights.
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