For IEC Code Registration, the following documents are required:
-Individual’s or Firm’s or Company’s copy of PAN Card.
-Individual’s voter id or Aadhar card or passport copy.
-Individuals or companies or firms cancel cheque copies of current bank accounts.
-Copy of Rent Agreement or Electricity Bill Copy of the premise.
-A self-addressed envelope for delivery of IEC certificate by registered post.
Benefits of IEC Registration
Expansion of Business
IEC assists you in bringing your product or service to the world market and further expanding your business.
Availing Several Benefits
The companies could benefit from the advantages of their imports and exports through Customs, the DGFT, Export Promotion Council, Customs, etc. Based on the IEC registration.
No Filing of returns
IEC doesn’t require the filing of any tax returns. Once the IEC is allocated, there’s not any obligation to follow any procedure to ensure the validity of the certificate. Even when it comes to exports There is no requirement to file any tax returns to DGFT.
Easy Processing
It’s quite simple to get IEC codes from DGFT within 10 to 15 days following making the application. There’s no requirement to show proof of an export or import to get an IEC code.
No Need For renewal
IEC Code is valid throughout the life span of an entity, and it requires no renewal. Once it has been obtained the code can be used by the entity to protect all import and export transactions.
Cases Where Import-Export Code (IEC) is Not Mandatory
According to the most recent announcement by the federal government, IEC cannot be mandatory for traders recognized under GST. In all instances it is the PAN of the business will be considered to be a new IEC code for the purposes of export and import. The Import Export Code (IEC) isn’t needed if the product is shipped or imported are used intended for personal use and not employed for commercial purposes. Export imports made by Government of India Departments and Ministries, Notified Charitable institutions do not need to obtain an IEC for Import Code.
Assuming that you want any help concerning the system for getting the IEC enrollment, or restoration of the IEC permit, kindly go ahead and call our business consultants at 01149987764
