Are you starting your import and export business in India? If you are planning to start your business of import and export in India, then you need to know some preliminary factors that are required to start this business. It is essential for every business that wants to import any goods in India or export goods out of India to have IEC code that is just like recognition to perform operations of import and export business. This unique code of 10 digit number needs to be issued by the Directorate General of Foreign Trade. No one is allowed to do import or export business without an import export code (IEC). If you have planned to start your business in Delhi, then you need to get an import export code in Delhi.
To get this code for import export business as earliest as possible, you just need to have some documents in a proper sequence so that verification could be done as quickly as possible.
The best thing about IEC code is that once you get this code, you will never have to apply for this code for entire life because it stays valid for the lifetime. To register for this code, fill an online application form on the website of the Directorate General of Foreign Trade. Documents that are required to submit for verification purpose are as follows:
- A certificate proof from the banker.
- A Pan card’s copy of the person who is applying for IEC.
- Address proof of the individual or company where business operations are to be performed.
- Passport photographs of directors of the company.
- Details of directors, trustee, partners, etc.
- DD or cash of Rs. 5000 to a precise APEDA office where a request for IE code needs to be made.
You don’t need Import Export code in Delhi when:
- You are import or exporting goods for a private purpose, but not for agriculture, trade, or manufacture.
- Importing and exporting has to been done by the governmental body or recognized charitable organizations.
Step by step process to acquire Import Export code in Delhi:
- Since there is a facility of filing the form for IEC online, so file a form ANF 2A where you need to enter all the important details discussed above.
- After filing the form, verification process takes place in which verification of details of the application is done.
- Once all details get verified, a unique IEC code of 10 digit numbers is issued by the Ministry of Commerce, Government of India. Always keep in mind that for single PAN Id, only single IEC Code is used and that is code for entire branches of exporter or importer.
Therefore, starting the import and business is not tough if you acquire Import Export Code on time. So, this blog may help you to know all the details related to the registration of import export code. Take the help from LexOracle that is well known for providing import export code in Delhi and various other legal services.