Importing and exporting of goods means the buying and selling of goods from one country to another country using land, air or sea transport. Import and export also include the supply of services or technology from one country to another country. The world today is more connected which makes the import and export business more practical and attractive than ever. With the growth of global e-commerce and international marketplaces people can now easily discover products from different parts of the world and can sell to international customers.
In India, the registration of the Import Export Code is done through the Directorate General of Foreign Trade (DGFT) portal. We at Shine Legal India understand that sometimes the registration of the Import Export Code can be confusing but you need not to worry anymore about the complexities of the online registration of the IEC code. We are here to help you to complete your online registration process of IEC code by providing professional assistance at every step of your online registration process of IEC code to make your registration of Import Export Code (IEC code) easier and error free.
The Import Export Code or IEC code is a 10 digit unique code issued by the Directorate General of Foreign Trade (DGFT) of India. The businesses that deal with import and export of goods must mandatorily register for the IEC code (Import Export Code). In most of the cases generally service exporters are not required to register for an IEC code but if a service provider wishes to take benefits provided under the Foreign Trade Policy, the registration of an IEC code becomes mandatory.
The IEC code in India is required to be linked with the Permanent Account Number (PAN) of the entity because of the adoption of the Goods and Services Tax. Even though the Import Export Code (IEC code) is now linked with the PAN of the entity, it still needs to be obtained through a separate application process submitted to the Directorate General of Foreign Trade (DGFT).
Note: DGFT may conduct physical verification of your office.
The Import Export Code (IEC code) is a 10 digit unique identification number that is issued by the Directorate General of Foreign Trade (DGFT) in India.