Import Export License
What is Import Export License?
IEC (Consequence Trade Code) is required by anybody who is looking to kick-start his/her import/export commerce within the nation. It is issued by the DGFT (Chief Common of Foreign Trade). IEC may be a 10-digit code that has lifetime legitimacy. Overwhelmingly merchant shippers cannot moment products without the Moment Trade Code and additionally, the exporter dealer cannot profit benefits from DGFT for the send out plot, etc., without IEC.
IEC (Import Export Code) license is one of such prerequisites when you're thinking of importing into or exporting from India. It is also known as Importer-Exporter Code.
What Is Import Export Licenses?
- IEC assists you in taking your services or product to the global market and growing your businesses.
- The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.
- IEC does not require the filing of any returns. Once allotted, there isn't any requirement to follow any sort of process for sustaining its validity. Even for export transactions, there isn't any requirement for filing any returns with DGFT.
- 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.
- IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions.
