Import Export Code
IMPORT EXPORT CODE
IEC registration is required by a business person for exporting or importing goods. It s 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are required in Import and Export code those business in forgian of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
The IE Code must be demand by quoted tp importers while clearing customs. Also, banks require the importers IE Code while sending money abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad. IEC Registration doen through KB MANAGEMENT SERVICE Indian cities.
BENEFITS OF IMPORT EXPORT CODE
All importers who import goods are required to register Import export code and all exporters need this code to obtain the benefits of exports.
IEC code holder does not require filing of any returns.
IEC Code is issued for lifetime and requires no renewal
Even individuals who are proprietors can obtain the code in their name.It is not necessary to setup a business for the same.
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.
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.
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.
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.
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.
Documents Of Individual / Proprietor / Partner / Director
Copy of PAN Card
Passport size photograph
Copy of Aadhaar Card/ Voter identity card
Authorization letter (In case of Partnership)
Authority from other Directors on letter head (In case of company)
Copy of Partnership deed (In case of Partnership)
Board Resolution/self declaration (In case of Company)
Telephone Bill in the name of the Individual (In case of individual)
Cancelled cheque of individual
Documents Required In firm and Company Entity
Copy of PAN Card firm/company
-
Copy of Property papers (If owned property)
-
Copy of Rent agreement (If rented property)
-
Landlord NOC (Format will be provided by us)
-
Cancelled cheque of firm
-
Electricity/ water bill (Business Place)
Telephone Bill in the name of the business
-
Copy of Service Tax returns (In case of Proprietorship)
-
Certificate of incorporation (In case of company)
-
Bank statement of firm/company
-
AOA and MOA (In case of company)
-
1 letter head of company (In case of company)