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All You Need To Know About: IEC – Import Export Code – IE Code

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Posted by ThinSquare ON Thursday , 30 May 2019 2 Comments

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And yes, our Import Export is not that much difficult, but it is worth saving and completely safe. We work with the formula Import Export Code, which we have attained from LeadingFile…

We recommend you too to obtain the IEC Registration from LeadingFile. And why so?

Ease: They are superb at all such business activities. In saying — LeadingFile is a business leading innovation.

Coming back to the topic, IEC – IEC stands for Import Export Code and to know all about the same, visit the ignite visible India’s largest business services platform provider LeadingFile’s guide on the same…

Here, we will also be illustrating the same but in short/-

What Is An = IEC – Import Export Code – IE Code

Moving your product or services into the international market will expand your business.

But imagining an import/export operation can be difficult for a rude person, and his job is made more difficult by various commercial zones and legal processes, which is an international business. In this current article, we will deal with a small portion of the import and export, which is called the Importer Export Code.

Prior to starting the import/export business in India, the first requirement is to get IEC. An IEC is necessary for import/export of goods.

If import / export services or technology, then the IEC requirement is only in limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’, i.e. services or technologies in which international trade is banned by the government of India As they are related to national security, such as nuclear weapons, automatic guns etc.

Exemption Under IEC Registration

The exemption under IEC Registration for Goods and Service Tax illustrated as –

IEC is not mandatory for all merchants who have GST registration, which also comes with a discount. The following are the cases where the exemption is granted:

For personal purposes of goods or services to be exported or imported, and not used for any commercial purposes.
Export / Import made by the departments and ministries of India Government or notified charitable institutions need not obtain the import-export code.

Capitulate Of Online IEC Registration

If for any reason IEC intends to leave registration or surrender, then the applicant can surrender the IEC registration by notifying the issuing authority.

After receiving the notice, the issuing authority will cancel it. After this, the Authority will send customs and other regional officials to the DGFT to make intimate about the IGE number which has become inactive.

Note: IEC code registration is applicable to different businesses working in different areas. Those who work on import and export of food products must also have an FSSAI registration.

MSME registration of import and export business coming into the category of small, micro, or middle enterprises should be for joint profit.

Documents Required For = IEC – Import Export Code – IE Code

For Import Export Code – IEC – IE Code Registration following documents are required, as follows;

A copy of the PAN card.
Aadhar card or passport copy or voter ID.
Cancels the check copy of a current bank account.
Percent of the rent agreement or electricity bill.

This was all about the documents and registration steps which need to be taken in the faith of Import Export Code – IEC – IE Code Registration!

FAQ On = IEC – Import Export Code – IE Code Registration

Q:1 – What is IEC Code Registration?

A: This is the 10 digits unique code issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, Government of India.

Q:2 – How long it will take to get IEC code Registration?

A: You can get the IEC code registration within one week from the date of filing the application.

Q:3 – What is the validity of IEC Code?

A: Import Export Code is one- time license and valid for a lifetime.

Q:4 – Do we get any hard copy from the department?

A: No, you will receive a soft copy of the IEC certificate only on the mail.

Q:5 – Is there any penalty for not having an IEC code Registration?

A: Of course – a big: No! Penalties are not levied on getting IEC registration, but you will be avoided from profit.

This was all about the IEC – Import Export Code – IE Code.

Now, let’s conclude the article by illustrating a conclusion, which is as follows:

Conclusion
Here, in this blog, we have discussed the ~~ All You Need To Know About: IEC – Import Export Code – IE Code.

Often we concluded its layout and the list of factors involved with the same in detail.

They add value to any blog post. And, this leads to the end of the blog.

We hope this blog helped you. Do share the blog with your peers.

  • https://www.leadingfile.com Cameron Teotiya

    Hey there! Its really informative, and i raise my hands to this article. How simple one can make this import export. End level, my friend…

    Long lasting, i would like to this to the another level…

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