All You Need To Know About Import Export Code In Delhi
06 Feb 2017 in Finance
If one needs to expand their business, they need to take their goods, products and its services to the international market for importing and exporting it out of India. For this, one needs an Import Export License. The director General of Foreign Trade, Ministry of Commerce and Government of India issues a unique 10 digit IE code.
Procedure for obtaining Import export Code in Delhi
- Step 1- Application- The Applicant has to fill an online application form and submit it along with the necessary documents in a digital format either PDF or GIF. This has to be uploaded to the knowledgeable authority.
- Step 2- Online Submission-All the applicants that have digital signature can sign and submit form, digitally.
- Step 3- Offline Submission-The duly signed application form has to be submitted to the office to the concerned Jurisdictional Regional Authority (RA). This can be done through hand or through post with the copy of documents that are uploaded and are enveloped with the return address on it.
- Step 4- Confirmation on Receipt- Once you submit, you get a confirmation e-mail/SMS of the receipt that is sent on your registered mobile number/ e-mail address.
- Step 5- Approval/Rejection-After the IEC application is being processed:
(i) Applicant is informed through the mail that his/her application for IEC has been approved and you get a computer generated IE code available on the DGFT website.
(ii) If the application gets rejected, a computer generated rejection letter is sent to the e-mail address of the applicant. If the applicant wants to apply again, he/she may repeat the process again and again.
Why is IEC Code in Delhi required?
- IEC code is a license for Importing as well as exporting the goods.
- IEC registers you with the dealer code and sends your details with the port through which your goods and services are being imported and exported.
- The goods can be cleared from custom authorities through the IE code.
- IEC helps in reducing the transport of the illegal goods. No one is able to obtain IEC without providing the full information of the good that has to be imported or exported. Thus it ends ups restricting the transportation of illegal goods.
- Various Companies can enjoy benefits on imports and exports from DGFT, Export Promotion Council, Customs and many more.
How can one Get IEC?
First of all, one needs to ensure whether they are eligible for getting an Import export code in Delhi. For an individual to be eligible, they should have the following documents. Ensure that you all the documents mentioned below before you apply for Import export code in Delhi.
- Your PAN number
- Details of your Current bank account
- Premises proof like the property papers, whether it is self owned or a rent agreement
- Your Identity proof
- The Banker’s certificate
- The Company’s cover Letter for issue of the IEC number.
An IEC application form further has to be submitted to the regional joint DGFT office with all of the above mentioned documents attached.