Import Export Code (IEC)
Issued by DGFT (Director General of Foreign Trade), Department of Commerce, Government of India; IEC is represented by a 10 digit number. IEC stands for Import Export Code and obtaining this code is obligatory for bonafide firms or individuals aspiring to start an import and export business in Indian Territory. Specific rules and regulations need to be fulfilled to obtain IEC. With ISE, growing your business globally also becomes easy.
The following are the benefits of ICE certification:
- IEC Registration helps you to grow your business to the worldwide market and develop your organizations as per your expectations.
- Availing several benefits from DGFT, Export promotion council, and customs based on their registration.
- No filing of returns: Once you apply for IEC registration, no return filings are required. Once you get your registration done, there isn’t any prerequisite to follow any kind of procedure for supporting its legitimacy. There isn’t any prerequisite for documenting any profits with DGFT also. Hence, there is no filling of returns.
- Easy processing: It is genuinely very simple to acquire IEC code from the DGFT within a period of 10 to 15 days subsequent after applying. There isn’t any need to give a proof of any fare or import for getting IEC code.
- No need for renewal: IEC code is viable for the lifetime of an element and requires no reestablishment. After it is acquired, it could be utilized by a substance against all fare and import exchanges.