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Import export code number is a unique 10 digit code number issued by government of India. If a person is interested in making imports and exports then it is mandatory for him to apply for an import-export code number. Import export code is perquisite. It is also required if you’re providing services outside India.
1) every exporter and importer of goods
2) Service provider serving clients abroad.
Also, applicable if you’re importing a service depending upon if you are covered under reserve charge mechanism or not.
The import and export code is very beneficial if you want to expand your business, as the code takes you on the global market and enables you to provide services globally.
Import export code doesn’t require any renewal or filing of returns as once allotted it stays for lifetime. There is no filing required to do to sustain the important export card. There is no need to file the returns even for export transaction.
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 proof of any export or import for getting IEC code.
Pricing for what you want required service
IEC forms the primary document for recognition by government of India as an exporter or importer. And it is mandatory if a person wants to commence a business of importing and exporting goods and services.
Business wants to commence import and export it is a must to have a IEC card without the card it is impossible to commence import and export business with foreigners in India.
The service is state specific in Expert’se you need to shop license and will be rendered only in the specific city being Mumbai, Gurgaon, Hyderabad, Kolkata, Jaipur, Surat, Bangalore, Chandigarh, Pune and Delhi.
Average time to register import export a court in India is 10 working days.
Digital signature is required in order to validate online document submission. From 1 April 2016, it is mandatory to validate the form and the document using a digital signature.
IE code is valid for life time unless or until any penalty imposed by the Govt against any misconduct and renewal is also not required.
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