IEC stands for Import Export Code. Before you start an import/ export business in India ,you must have to obtain an IEC. An IEC is necessary for import/export of goods. In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’, i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc.
IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India. No person or entity shall make any Import or Export without IEC Code Number –
IEC is not required under the following circumstances:-
1. Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.
2. Import/export by government ministries and departments, and certain notified charitable organizations.
Documents required for obtaining the IEC
1) Documents for Proprietorship firms
· If business premises is self owned then;
If the business premises is owned by other than the proprietor, then;
2) Documents for Partnership firm
If business premises is owned by one of the partner then;
If the business premises is owned by other than the partner, then;
3)Documents for LLP firm
If business premises is owned by one of the partner then;
If the business premises is owned by other than the partner, then;
4) Government Undertaking/ Public Limited Company/ Private Limited Company/ Section 8 Company , Registered Society/ Trust
If business premises is owned by one of the Director/Secretary or Chief Executive/ Managing Trustee ;
If the business premises is owned by other than the Director/Secretary or Chief Executive/ Managing Trustee , then;
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