Import and Export Code in India

By Trademark Bazaar - 26th October 2017

Import and Export Code in India

Every person undertaking the export and import transaction in India is required to obtain import export code.  The import-export code once obtained is valid throughout the existence of the entity and no further renewal or filing is required.

The import-export code is issued by the directorate general of foreign trade (DGFT), ministry of commerce and industries, Government of India. Obtaining import export code in case of goods is mandatory however in case of export or import of services IEC code is required only in certain specified cases.  These services may include the services or technologies concerned with the national security of the country.

Importance of obtaining IEC code

• It is mandatory for undertaking import and export activities.

•Customs clearance for goods is obtained through IEC.

• Companies can enjoy various benefits on imports and exports from DGFT, Customs, and Export Promotion Council etc.

• Through IEC the transport of illegal goods is prevented.

Documents required for obtaining Import Export Code

1.    Identity proof (Passport, driving license, adhar card, voter ID card etc.)

2.    Business identity proof(Partnership deed, incorporation certification or registration certificate)

3.    PAN card number.

4.    Canceled check copy

5.    Business address proof (Sale deed, lease deed or rental agreement.) 

In order to obtain the import-export code, an IEC application shall be submitted to the Regional Joint DGFT office along with the above-mentioned documents. The IEC is granted within the time period of 15-20 working days.

Recent from the blog

Importance of Trademark Registration

BY Trademark Bazaar 15th February 2018

If you desire to create a mark of your product in the minds of people getting a trademark is an ideal option for you. The trademark helps you to uniquely identify your product from the others and create a unique brand image. 

VIEW

After Incorporation Compliances for Company

BY Trademark Bazaar 8th February 2018

There are certain annual compliance requirements and other compliances that every business entity is required to fulfill according to the Companies Act 2013. Compliance refers to the set of rules and regulations that must be followed according to the law

VIEW

Why is LLP a Better Option for a Startup?

BY Trademark Bazaar 31st January 2018

Limited Liability Partnership is the best-suited business structure for the startup that is meant to be incorporated by any two persons desiring to limit their liability to their share only.

VIEW

FACEBOOK
BLOG SEARCH
ARCHIVES
UPDATES

TM Bazaar blog gone social

Get the latest updates of TM Bazaar

Leave a Comment

Do you have any Question? Call us on +91-8882-312-312