Registration of Import and Export Code

What is Import and Export code license?

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.

Who Should Start this

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.

Benefits of Import and export code

1. Helps in expanding the business :-

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.

2. There are no filing of return :-

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.

3. Easy to process :-

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.