Who can apply for IE code registration in Chennai?

November 6, 2020 Admin IE Code Registration

An individual needs to enter the Import Export (IE) code to export or import goods. It is an inevitable code which is issued by the Directorate General of Foreign Trade (DGFT). IE code registration in t nagar chennai is required for all businesses engaged in the import and export of goods. The Import Export Code has a lifetime validity and does not require renewal or filing. Importers will not be allowed to continue without this code and exporters will not be able to take advantage of exports from DGFT, Customs and the Export Promotion Council without this code.

Significance of IE code registration

Quick processing

The IE code can be easily obtained from DGFT within 10-15 working days of submitting the application along with all the required information. Proof of any import or export is not required to obtain the IE code. Individuals who own a business can also get an IE code in their name. No business entity is required to obtain the IE code.

Importers & exporters need IE code

IE code is required for those who import goods into India and those who export goods or services from India. The IE code must be quoted when clearing customs and sending goods. Banks require an IE code when receiving and sending money from abroad.

No return filing

No return filing is required for the Import Export Code. No filing is required of the Directorate General of Foreign Trade, whether import or export transactions have taken place. The IE code license in adayar chennai is issued for the lifetime of the entity and does not require renewal.

Who can apply for IE code registration in Chennai?

Every trader, manufacturer or importer of any trade requires an IEC code. It is illegal in India to do any commercial activity without an IEC code. The important thing is to recognize that the IEC code is highly required in the case of export of goods. Export business cannot be done without IEC code registration in west mambalam chennai. However, the export of services requires an IEC code in the following two cases:

For some suggested services in foreign trade policy.

To claim export related benefits

When an importer wants to send money abroad through banks, it is necessary for the bank. When an exporter receives money in any foreign currency directly into his bank account, then the bank needs an IEC code. When any exporter has to send his goods to another country, it is required to the customs port. When any importer has to clear his goods from the customs department, then the customs officers require the IEC. Who can apply for IE code registration in Chennai?

In this age of cut-throat competition everyone wants to expand their company beyond the boundaries of the domestic market. But doing business around the world is not just a cup of tea for everyone. In India, the concern to export or import to another country requires a license (Registration Certificate) of the Import-Export Code to make such transactions. It has been issued by the DGFT (Director General of Foreign Trade). This is the 10 code (PAN of concern) issued by the authority, which is valid for life. Importers’ merchant goods cannot be imported without the import-export code or they can not avail DGFT for export program etc. without IEC. This is a concern that needs to be addressed before importing or exporting.

Characteristics of IE code registration in India

We need to know about the legal rights of import and export of products and the following are the features of the IEC code in chennai which will help you to know all the rights that drive the import-export business. Who can apply for IE code registration in Chennai?

The IEC code helps to generate revenue from the import or export of a product.

The IEC code is mandatory for all businesses that import or export products and goods.

The validity of the IEC code is lifetime so it does not require code renewal.

It does not have to be an established business to obtain the IEC code in guindy chennai, so the code can be obtained by any property owner in their own name.

Import Export Code or IEC is a 10 digit code for importing / exporting goods / services by an organization or individual. The code is issued by the DGFT (Director General of Foreign Trade), Ministry of Commerce and Industry, Government of India. This code is valid for a lifetime, meaning it does not need to be renewed. This code will be generated within 5-7 working days of submission of documents and all required correct information.

This code includes the importer’s export code license in chromepet, import license for exports, import number for exports, IE code, IE license, etc. You can issue this code in your own name or name. Business. Once issued it is valid for all departments / units / factories / branches.

10-digit code (PAN)

One time registration

Business A code for a business

A code is valid for all branches / factories / units that have the same code

Merits of IE code registration in India

Business expansion

In this age of cut-throat competition everyone wants to expand their company beyond the domestic market boundaries and for this, every trader wants to do business with a foreign country, which leads to an increase in customer base and branding in foreign countries

Other benefits

After obtaining IEC certification, the registered entity can avail many benefits from their importers / exporter DGFT, Exporter Promotion Council, Customs etc. It also helps in resolving banking transactions when foreign currency arrives during export. / Import. Banks require an IEC certificate for such transactions.

More No further consent

Unlike other licenses or registrations, the IEC registration in tambaram chennai is a one-time process, meaning it does not have to be done even once after obtaining the registration certificate. It is a one-time and lifetime registration and after registration, no annual return or compliance is required. we also involve in ie code registration service in coimbatore.

Renew no renewal

The IE code is valid for the lifetime of the entity and does not require renewal. Once an individual / business is acquired it is eligible for use against all export and import transactions.