What is Import Export Code IEC?
It is necessary to have an Import Export Code to trade any product of value from India or vice versa (IEC). The code is a ten-digit number assigned by the Director-General of Foreign Trade (DGFT) to firms who want to do foreign business.
Advantages / Uses of having an Import Export Code:
1. It provides a permit to expand your company.
2. Once you’ve applied for an IEC Code, you won’t have to renew it.
3. It is not required to file tax returns once an IEC has been assigned.
4. Because all key information about the products being imported/exported is available, the risk of fraud is reduced.
5. The benefit of receiving a refund of some taxes paid on products exported.
Documents required for registration of IEC Number:
1. Aadhar card.
2. PAN Card.
3. Passport size photos.
4. Electricity Bill, as proof, must be Latest.
5. Company’s Letterhead.
6. Bank Certificate/ copy of the cancelled cheque.
How do I apply for IEC Number?
According to the rules, you can obtain an Import Export Code by applying both in the offline and online processes.
For offline registration, the applicant must download the application form from the DGFT website, fill out the form with the required information, and sign each page. Send a hard copy of the application form together with the required documentation to the Foreign Trade Office’s Regional Director-General. As a result, this is a time-consuming process that needs both money and personal presence.
You can apply for IEC Online with ease
The easiest way for applying to IEC Code is through MeraLegal, the country’s top IEC registration platform has already been trusted by millions. The professional Advocate panel here offers applicants 360° online help, from applying the code to the speedy delivery procedure, at an amazing price.