Every establishment dealing with Imports/Exports is required to get a IE Code from the concerned state government authority. The first requirement before you start an import/ export business in India is to obtain an IEC. An IEC is necessary for import/export of goods. In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’, i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc.
What are the Features of One Person Company ?
Need/Use of IE Code License
IEC forms the primary document for recognition by Government of India as an Exporter/Importer. On the basis of IEC, companies can obtain various benefits on their exports/imports from DGFT, Customs, Export Promotion Council etc..
What are the Documents required for IE Code License ?
WHATS INCLUDED IN THIS PACKAGE ?
What is the process for IE Code License?
Entity has to apply for IE Code by filling in the concerned forms as prescribed by the goverment.
Duly filled forms shouold be sumitted along with required documents to the DGFT.
Memorandum and Articles of Assocication should be drafted.
Duly filled forms shouold be sumitted along with required documents to the DGFT.
The company is all set to start it’s operations.
All Importers who import goods into India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad.All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
An IEC number once allotted, shall be valid for all its branches/divisions/units/factories as indicated in the IEC. While applying for registration, care shall be taken to include all desirable addresses of branches/divisions/units/factories. Address proof for the same would be required. Validity is for life.
No, IEC will be issued in digital format only.
NRI has to follow the normal application procedure. In addition permission from RBI/ FIPB is needed in some cases.
The data is automatically transmitted electronically on the day of issue of IEC.
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