Exemptions of IE Code:
The import business compelled under by clause 3(1) (except sub-clauses (e) and (l)) and the export business comes under section 3 (20) (except sub-clauses (i) and (K)) of foreign trade rule order, 1993
- Ministries and departments come under the State or Central Government.
- The people import or export goods for personal use which not connected with the trade or manufacture or agriculture.
- Exemption mainly for the goods which related to Special Chemicals, Organisms, Materials, Equipment’s and Technologies (SCOMET)
- People export or import good from the nearby countries of China, Nepal, Myanmar, Indo-Myanmar border through the ports of Gunji, Namgaya, Shipkila and Nathula. It also depends on the CIF value of the consignment which not exceed Indian Rs.25,000.as exception Nathula port ranges up to Rs. 1,00,000/-
- Passport size photos of the Proprietor / Partners / Directors
- PAN Card copy of the Proprietor / Partners / Directors
- Passport / Voter's ID –Card / Driving Licence / Aadhaar card of Proprietor / Partners / Directors
- If the company or firm is a self-owned, the owner must submit the latest electricity /telephone bill in the name of owner. In case of rental then rental agreement along with electricity /telephone bill to be submitted.
- Cancelled cheque leaf or the bank certification in the name of the applicant is required
Benefits of IE code
- Life time validity, there is no need for renewal
- No compliance
- Reduces the risk of Illegal transportation
- It is a chief legal license that makes the cross border transactions easy and legal.
- There is no requirement of filings or renewal of the registration for each Financial Year or otherwise.