IEC Definition, features & Registration process

WWW.LEGALRAASTA.COMIMPORT EXPORT CODE (IEC) GUIDE - INDIAHi, In this video the Legalraasta team will teach our all about the IEC code in India its definition, features and registration process

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MEANING OF IMPORT EXPORT CODEImport Export CodeIEC Code is 10 digit code with permanent validity.IEC Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.All businesses engaged in Import and Export of goods are required to obtain Import Export Code.Importers are not allowed to proceed without this code and exporters cant take benefit of exports from DGFT, customs, Export Promotion Council etc if they dont have this code.

Now, what is the MEANING OF IMPORT EXPORT CODE and why is it required in India?

IEC Code is 10 digit code with permanent validity.IEC Code is issued by the Directorate General of Foreign Trade (DGFT)

All businesses engaged in Import and Export of goods are required to obtain Import Export Code for import or export of goods.

FEATURES OF IMPORT EXPORT CODEFeaturesProcessAll importers who import goods are required to obtain Import export code and all exporters need this code to obtain the benefits of exports.

IEC code does not require filling of any returns.IEC Code is issued for the lifetime and requires no renewal.

Even individuals who are proprietors can obtain the code in their names. It is not necessary to setup a Business.

IEC code has multiple features.IEC code does not require filling of any returns. IEC Code is issued for the lifetime and requires no renewal.Even individuals who are proprietors can obtain the code in their names.

In order to obtain an IEC code, you need to submit an application with DGFT along with the required documents.

Once the application is approved, the IEC code will be allotted to you in the next 10-15 days.

DOCUMENT REQUIREDYou will need the following documents to apply for the IEC.Pan Card of individual, ID Proof, Residential Proof, 2 Passport Size Photograph.

Also the following documents need to be attested before the submission.NOC - No Objection Certificate.Board Resolutions in Case of Private Limited Company.

PACKAGES OF IMPORT EXPORT CODEInclusionsPremium

Drafting DocumentsFiling ApplicationProcessing ApplicationImport Export Code

2,999Package price (Rs.)You can either file the documents at the DGFT office in your respective territory or use Legalraasta services for filing the IEC.

With LegalRaasta you can file the IEC by filling a simple online form available online at our website. The package for IEC starts at rupees 2999.

About LegalRaasta and TeamAbout usWe are committed to helping you grow your business and add value through our expertise. We aim to deliver a hassle-free experience so that you can focus on your core business.

Our mission is to offer affordable, quick and automated professional services to clients. Through technology, we bring numerous government/ legal forms at one place and have simplified them to be fully understood by common man. Legalraasta.com is a one destination for your legal matters relating to:Forming any type of business entity (e.g., Pvt. Ltd Co, LLP etc)Filing individual and company returnHelping on company compliances such as ROC filings & minutesProtecting work through trademark & copyrightOur teamLegalRaasta.com has been founded by a team of Chartered Accountants and professional advisors. We currently have a network of 100+ professionals including experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Chartered Engineers and Bankers.Pulkit Jain, founder of Legalraasta, has over 5+years experience in CA and Legal domain. He has worked with the top CA firms in India and has served large corporate and MNCs

Legalraasta.com is Indias top destination for legal & company matters . We can help you in Forming any type of business entity (Example Private. Limited Company, LLP),filing individual and company return, Helping companies for their compliances such as ROC filings & minutes, protecting work through trademark & copyright.

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So log on now at legalraasta.com to get your IEC code registered or mail us at contact@legalraasta.com