Businessmen are always at the aim of having their business roots in each and every corner of the country and even outside boundaries. But however dreams are always sweeter than the reality and expanding business in the International market is not easy. There are laws and procedures that are to be takes time to be completed if you are not at the right hands. IEC is one of the most needed legal terms that are needed at the time of import or export from India. This licence carries 10 digit codes which are to be issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industries, Government of India.
It has to be generated online and only one IEC is issued against one Pan Card. It has lifetime validity and shall be valid for all the branches of business. However person who is importing goods for personal use does not require having an IEC. While businessmen importing or exporting from Nepal, Myanmar through Indo Myanmar border does not exceed 25,000.
List of partners or directors of the firm/Limited Liability Partnership firm or Company with their residential address, ID proof, passport size photograph and PAN card.
Articles of Association (“AOA”) and Memorandum of Association (“MOA”)
Certificate from banker as per the format is given in Appendix 18A.
First Step: Making of the basic documents and Information 1-2 days
Second Step: Drafting of the application 3-4 days
Third Step: Reviewing of the work done and changes if needed 5-6 days
QusHow is the application for the export code done?
AnsAn application must be made in the Aayaat Niryaat Form 2A (ANF 2A) format to the Regional Authority of the (DGFT)
QusWho issues the import export code?
AnsThe DGFT issues the import export code.