IEC Code (Import Export Code) certificate is a license which can helps for trading of all types products others countries. This is one-time process of registration certificate validity will be fo lifetime.
An import export code is a unique 10-digit code that is required for every import/export business owner in India. The IEC code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce, and needs no filing or renewal. IEC Number is required by importers to clear customs and shipment, and to transfer money to foreign banks. Exporters require their IEC Code to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the IEC Number.
Benefits of IEC Code
1.The IEC registration helps traders including online e-commerce operators open the doors to venture into the global market.
2. Businesses can avail government schemes like the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS), and others from customs and export promotion.
3. No compliance requirements post registration and hence maintaining the business is relatively simple
Basic Documents Required for IEC
1.The IEC registration helps traders including online e-commerce operators open the doors to venture into the global market.
2. Businesses can avail government schemes like the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS), and others from customs and export promotion.
3. No compliance requirements post registration and hence maintaining the business is relatively simple
