Import & Export Registration
An import export code is a unique 10-digit code that is required for every import/export business owner in India. The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce, and needs no filing or renewal. IEC is required by importers to clear customs and shipment and to transfer money to foreign banks. Exporters require their IEC to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the IEC.
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Benefits
- The IEC registration helps traders open the doors to venture into the global market, including registration in online e-commerce operators
- Businesses can avail of government schemes like the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS), and others from customs and export promotion
- No compliance requirements pos registration and hence maintaining the business is relatively simple
- The process of obtaining IEC is not tedious and can be obtained with minimal, basic documents.
DOCUMENTS REQUIRED
Adhaar Card
PAN Card
Copy of Electricity Bill
Cancelled Cheque
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