IEC CERTIFICATE

To Import/Export Goods or services in foreign countries, you need to procure an Import/Export License. An Import/Export License is a 10-digit numeric code commonly known as Importer-Exporter-Code (iec certificate) which is registered under the Customs Duties Act 1962. This License permits a trader to import and export outside the country. Tax Advisory will help you obtain your import export license without a hassle.

When you need Export Import License

Generally, a trader would need an iec code in the following conditions: -  

• If an exporter is sending goods to a custom port.


• If an importer wants to remit money to a foreign country via bank transfer.


• When an exporter receives the money directly in the bank account.


• When a trader will have to pay customs duty to the Customs Authorities.


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Note: - To get several rewards(benefits) from the Government. It is essential for a trader that he or she should have an IEC Code registration.

How To get an Import/ Export License

First of all, all the merchants should choose their specific product. An iec number will be granted only for the product category applied by the merchant. If A trader has not registered his firm. They should first decide the name of the firm for example, if a trader wants to do import / export business then he can choose a name like Sharda Export Company. After choosing the name he should register his firm. Now a merchant can apply for apply iec code online, then register an import / export company with the nearest airport or seaport.

Documents required for the IEC registration

Following Documents are required for the IEC registration application:

How it is done?

Import Export License Fees

If you are looking for IEC registration, then it is important to get in touch with the best legal business companion like Tax Advisory. Here you will get it done at very reasonable rate within few days. Our import export license fees are as follows-

Proprietorship firm- 2499/-

Partnership Firm- 2999/-

Private limited Company- 3499/-

all fees are inclusive of all taxes.

Government promotional Scheme for Import

Schemes for the promotion of Import Export

Some of the Government schemes for the promotion of Import Export are given below: Export from India, two schemes come under this category:    

• Merchandise Export from India Scheme (MEIS): Basically, this scheme provides several rewards and incentives to the exporters at a specific rate which may vary with various export items. This incentive is granted by the government as “Duty Credit Scrips” which are easily transferable. The Credit Scrips are provided on the realized Free on Board (FOB) Value of export in free foreign exchange at a rate of 2%-5%.


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Note: A trader may use these Credit Scrips to make payment of custom duty, service tax, and excise duty.

• Service Export from India Scheme (SEIS): under this scheme, the government will have to provide 3% to 5% of incentives on the net foreign exchange earned to all service providers, who generally provide their services in overseas countries.


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Note: Under this Scheme, the incentive provided in the form of Credit Scrips can be easily sold or transferred to any other person. A trader can also make payment of various taxes during the import or export of services, by making use of Credit Scrips.

Rules and regulation set up by the Government for Export & Import License

If a person wants to enter the Export-Import business and want to get export import code of Organic food product, then it's mandatory of a person to adhere rules and regulation set up by the Government for which you have to procure the following mandatory Licenses: -    

• Organic Food business company in India should procure a valid FSSAI License for example if an organic food business company whose annual yield is less than 12 Lakhs should procure a basic FSSAI License, an Organic food Company whose annual yield is more than 12 Lakhs should procure FSSAI State License and if Annual turnover of a food business company is more than 20 crores then FSSAI Central License is a mandatory requirement.


• The validity of an FSSAI License is for five years and after expiry, the renewal of the License is necessary for Organic food business in India. India Organic Certificate is another requirement for this type of business. Organic food business companies can also procure an FSSAI LOGO, which certifies that the product is organic.


• An exporter of Organic Food Products should procure a phytosanitary certificate from the (Importing) Country.


• Grade Certification (Quality Control) of organic Products is essential for the exporter of Organic Food Products to the countries like Europe, the USA, Japan, etc.


• Before exporting an Organic Food Product to any country, proper pesticide and contaminants checking should be done, to ensure that Organic Food Items should be below the maximum residues level decided by the importer country officials.


• An Organic Food Company should also procure a custom handling certificate, which is essential for organic food business owner


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Things to keep in mind before exporting organic food

If a person wants to export organic food products, then it is required to follow the following steps: -

Eligible Products for Export and Import License

Generally, in India, Import & Export business comes under Foreign Trade (Development & regulation act 1992 and it is governed by the Government of India Export-Import Policy.

In India, the import and export of a large number of all products are free, except for those items which are regulated by Import & Export policy. In fact, registration with the regional licensing authority is necessary for the import and export code of products.

Note: The Custom Authority will not permit the clearance of products unless the importer or exporter has procured an importer exporter code registration (IEC) from the regional Licensing Authority.

Import Export Certificate format

Here you can have an overview of the Import & Export Policies of the Government of India: -    

1. Import Policy: - Recently Indian Trade Classification (ITC) Harmonized system has classified the products in three basic categories given below


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• Licensed (Restricted): Generally, Licensed or restricted items can be imported, only after procuring an import license from the appropriate regional licensing authority. The products that generally come under the license shall be disposed of, according to the process specified by the licensing authority. The list of licensed goods is given in ITC (HS).
  
  
  • An Import license is valid for 24 months for capital goods and 18 months for other goods.
  
  
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• Canalized: Canalized products are basically, those products that can be imported by a particular method of transportation as per licensing authority rules & regulations. The list of Canalized goods is given in ITC (HS). Items in this category can be imported only via canalizing agencies. The main canalized items are given below:


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1. Petroleum products


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3. Bulk agricultural products like grains and vegetables.


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5. Some pharmaceutical products.











 
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• Prohibited: Such items which are strictly prohibited on all import Channels in India are given in ITC (HS)











 
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Note: The items not specified in these three categories, can be imported without any restriction if the importer has procured a valid iec code registration. There is no need for any import license to import such types of products.    

1. Export Policy: -


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Those goods, which are not listed under ITC (HS) Classification, can be exported without any restriction. Here you can have detailed information of classification of goods for export

1. Restricted: Before exporting any restricted goods, the exporter should procure a license to export that product from the appropriate licensing authority. This License permits the exporter, to export such type of products. The restricted product can be exported to any other country only according to the procedure mentioned in the license.


2. Prohibited: Various products like Animal and an animal article (that may cause infection) comes under this category.


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Note: These types of products are normally not permitted to be exported to foreign countries.

1. State Trading Enterprise: In this category, some items can be only exported via Authorized State Trading Enterprise like Minerals and Metal Trading Corporation, etc.


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Tax Advisory will easily execute the import-export license online registration process for you. Our enthusiastic representatives will file import export registration on your behalf. After submission; We will do the necessary coordination with DGFT to expedite your application. We will make sure that you get your import-export license in just a few days.

Frequently Asked Questions

Q) how to get import export license in india ?

To get an import-export license in India, one needs to follow these steps:

1. Obtain a valid PAN card.

2. Register a business entity (Partnership firm, LLP, Pvt. Ltd. Company, etc.).

3. Open a current bank account in the company's name.

4. Obtain an Import Export Code (IEC) from the Directorate General of Foreign Trade (DGFT) by submitting the required documents, such as PAN card, bank certificate, and identity proof.

5. Register with relevant export promotion councils for the specific product category.

6. Obtain necessary licenses and permits from concerned government agencies depending on the nature of the goods to be imported or exported.

7. File the required documents with customs authorities and ensure compliance

Q) how to start import and export business in india

Starting an import and export business in India involves the following steps:

1. Obtain an Import Export Code (IEC): This is a mandatory registration with the Directorate General of Foreign Trade (DGFT). An IEC is a 10-digit code that is used to identify exporters and importers in India.

2. Choose a product: Decide on the product or products you want to import or export. Research the market demand, competition, pricing, and regulations related to the product.

3. Find suppliers and buyers: Research and identify reliable suppliers and buyers of the product, both domestically and internationally.

4. Establish a company: Register a company with the Registrar of Companies (ROC) or start as a sole proprietorship or partnership.

5. Obtain licenses

Q) how to get an import export licence

To get an import export license, you will need to follow these steps:

1. Decide on the type of import-export business you want to start - Identify the products and services you want to deal with.

2. Choose a business name and register your company - You need to register your business with the government and obtain a unique business identification number.