Import The export code is a code that a company needs to import, export and good services, the code has 10 digits of code and its validity is for life.
This code is issued by DGFT (Director General of Foreign Trade), Ministry of Commerce and Industries, Government of India. Once the application is submitted, DGFT will issue the IE Code for the entity in 5 to 15 business days.
According to IEC, companies can benefit and subsidize their exports / imports from Directorate General of foreign Trade, the Customs Council and Export Promotion.
Import Export code does not require for filling of any returns. Once the code is generated there are no further procedures required.
Once you have finished with the IE Code Registry and send all the required documents, the IE Code is issued for the entire life of the entity and does not require renewal.
It is the primary requirement for the import into and export from India for the goods and specified services which enables the businesses to unlock the opportunities across the globe in international business market.
According to the law the below conditions have to be met.
Individual’s or Firm’s or Company’s copy of PAN Card:
Individual’s or Firm’s or Company’s copy of PAN Card is needed for the IE Code.
Cancel cheque copy of current bank account.:
Individual’s or company’s or firm’s cancel cheque copy of current bank account.
Bank Certificate/ Blank cheque:
As a proof a bank certificate or blank cheque is required.
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