ABOUT IMPORTER EXPORTER CODE
If you thinking about starting an export import business within India, you need to apply for a new IEC code certification. The import export code is a 10 digit number that you would need to carry out the business. The government of India has set down certain processes and regulations that applicants need to follow. It is obligatory for all businesses or individuals who are engaged in importing and exporting goods or services to have an IEC. To avail the benefits from Export Promotion Council or Customs or DGFT, one needs to have an IEC number.
ADVANTAGES
EXPANSION OF BUSINESS
IEC assists you in taking your services or product to the global market and grow your businesses.
AVAILING SEVERAL BENEFITS
The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.
NO FILLING OF RETURNS
IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of processes for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.
EASY PROCESSING
It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide a proof of any export or import for getting IEC code.
NO NEED FOR RENEWAL
IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import
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