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What is IEC Registration?
Import Export Code Registration (IEC) is issued by the Director-General of Foreign Trade, Department of Commerce. it’s a ten-digit variety that is needed to get by one and all concerned in international trade of Export and Import or in different words we will say that it’s needed to be obtained by one and all United Nations agency is engaged within the business of merchandising of products or services within the international market. every variety of business that involves foreign transfer is needed to get associate degree IEC variety. IEC Registration may be done digitally therefore there’s no got to visit DGFT.
It is obtained for clearing the products from customs authority. the scale of the business does not matter, while not IEC variety no trafficker will import or export product.
What are the Benefits of IEC Registration?
- It acts as a license for commercialism associated with the commercialism of products and first proof for a firm as an Importer/ businessperson in India.
- it’s submitted to numerous government authorities to get edges with respect to their export and import from customs, DGFT, Export Promotion Council, etc.
- It provides dealer code details beside the small print of the port from wherever merchandise ar being foreign and exported.
- to get IEC code on-line registration the complete data is required to be well-found concerning the products which will be foreign or exported.
- IEC range shall be valid for all the divisions/units and factories indicated on the IEC range.
- With IEC, merchandise ar cleared from the customs authorities.
- It helps in reducing the transport of illegal merchandise.