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Jun 17, 2024 · IEC (Import Export Code) license is one of such prerequisites when you’re thinking of importing into or exporting from India. It is also known as Importer- Exporter Code. IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country.
What is Import Management System. DGFT through its power under the FTDR Act notifies various restrictions or quota or conditions on import of goods into India. These restrictions may require a licence or registration be applied for and approved prior to the given imports.
An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted.
In case of import or export of services or technology, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies. ... Import License for Restricted Items, Steel Import Monitoring System (SIMS), Import License for Tariff Rate Quota (TRQ), Registration Certificates. Click to explore the services offered under the scheme. View More.
As per the Foreign Trade Policy, it is mandatory to obtain IEC for export/import from India. Para 2.05 of the FTP, 2015-20 lays down the procedure to be followed for obtaining an IEC, which is PAN based.
Jan 27, 2024 · This comprehensive guide aims to demystify the fees associated with import-export licenses, providing detailed insights, a step-by-step breakdown, and addressing frequently asked questions (FAQs) to empower businesses in understanding and navigating the financial aspects of international trade.
Here is the step-by-step process to obtain an Import-Export License (IEC) in India: Step 1: Gather Required Documents. Obtain a valid Permanent Account Number (PAN) card issued by the Income Tax Department. Ensure that you have a bank account in the name of the firm or individual applying for the IEC.
Dec 15, 2023 · The Import Export Code (IEC) license is mandatory for individuals and businesses involved in import or export activities in India. It's a single license that is served as a unique 10-digit code for entities engaged in international trade and facilitates documentation and compliance.
You can check the status of export and import licences on the ICEGATE - e-commerce portal of the Central Board of Excise and Customs (CBEC). Exporters and importers may either enter their licence number or file name in the search space for checking the status.
Our comprehensive IEC registration services make it easier than ever to obtain the essential IEC certificate and import export license, ensuring that you're well-prepared to explore the global trade landscape.
