Import Export Code Registration
IEC stands for Import Export Code. Before taking your product or services to the international market, the first requirement for companies or individuals who want to start an import/ export business in India is to obtain an IEC. This is required in case you are seeking to import or export any kind of product.
On other words, IEC registration is required by a person who is looking for importing or exporting goods and services from India. IEC is a 10-digit code. It is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.
IEC has lifetime validity. Importers and exporters are not able to proceed customs without this code. Further, exporters cannot entertain benefits of exports from DGFT, customs, Export Promotion Council, refund of taxes paid during exporting the goods etc
Benefits of IEC Code
- Unlock the International Markets
- No Filling of returns
- Life Time Validity
- Reduces the transport of illegal goods
- No Annual Maintenance
Documents Required For IEC Code
- Identity and Business Proof
- Cancelled Cheque Copy
- Current Bank Account
- Bankers Certificate