IEC means Importer and Exporter Code, which is acquired by the business entity for import into or export from India as part of the venture transaction. Registration of the code has appertained under CHAPTER III of The Foreign Trade (Development and Regulation) Act, 1992. It is issued and allotted by the Directorate General of Foreign Trade (DGFT) as a 10 Digit unique number. The IEC Registration Certificate is considered as the main document for the venture which is into the imports and exports business.

Any business organization involving individuals can appertain for the registration for import into or export from India. The renewal of Importer – Exporter Code is not needed as IEC are allocated and permitted with life-time validity i.e. till existent of the venture. Application for IEC Registration is made online to DGFT partnered with mandatory documents.

Advantages of IEC for Businesses

Ventures have great choices through import and export business to unbolt the international market for their product or services they are included in. The IEC code is the main demand to enter into international market which assists the expansion and evolution of the business to an exact standard. Here are the advantages of IEC Registration for Businesses.

Worldwide Market Reach

As said, it is the main demand for the import into and export from India for the goods and itemized services which authorize the ventures to unbolt the chances across the worldwide in the international business market. It augments the worldwide reach of the venture and hence opens a door for expansion and evolution.

Online Registration

Obtaining IEC is the entire online process through its usual portal. The online IEC registration application makes quarrels little with clarified documents list attached forthwith to aid the application.

Do you want to do Import Export Code Registration?  IEC is mandatory for every business entity before commencing import and report activities. To know more about IEC Registration Online, please contact BDS Legal Services team now.

Import and export business is a very usual and hot topic in the globe of a venture. This is the sector, which permits your ventures to develop quickly and enhance your worldwide reach. Import and export also enhance the economic infrastructure of a country by emerging the Gross Domestic Product (GDP).

There are some basic and processes which are necessary for the importer-exporter business. One of them is the Import Export Code (IEC) Registration  It is an important need for the persons or any other venture type who deals in import and export business in India. Import Export Code is released by the Directorate General of Foreign Trade (DGFT) of Commerce and Industries Ministry of Government of India.

What is Import Export Code?

Import Export Code, which is frequently abbreviated as IEC is the first registration needed for the individuals who are dealing in Importing or exporting goods and services from India. IEC is a 10 digit unique code released by the Directorate General of Foreign Trade (DGFT). It is a mandatory document in import and export business.

Import Export Code is a criterion which does aid in developing up your venture to a level. IEC, once released can be utilized by the venture entity through the survival of the entity and there is zero renewal or filing issue. All the importers who import goods into India need the Import-Export Code Registration. Also, all the exporters who export goods out of the country require Import Export Code as well. Involving all this, banks too, require IEC if you demand to send money abroad.

Conclusion

Import Export Code is a chief document for the individuals who deal or are ready to start in the business of Import and export. Section 7 of the Foreign Trade (Development and Regulation) Act, 1992 states about IEC.

Do you want to do Import Export Code Registration?  IEC is mandatory for every business entity before commencing import and report activities. To know more about IEC Registration Online, please contact BDS Legal Services team now.