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Ours this elaborately prepared and sumptuous web article offers the comprehensive gamut of highly enlightening information about the Import Export Code Number (Importer Exporter Code) in India, importance and utility of this IEC, and the entire process for obtaining this significant IEC Code by needy individuals and entities engaged in all economic sectors of India. Our legal firm of worldwide prominence and repute, located in New Delhi (India), has been extending the complete range of superb and innovative legal services to people and entities which are active in various economic fields in all across India and the whole world, for over a decade. Our swift and expert services regarding the IEC Number in India, are just an ancillary service, to serve all people, companies, and firms located in India and abroad, which are concerned with making exports, imports, and monetary transactions with foreign people and entities.What is an Import Export Code Number (IEC Number)?
An Import Export Code (IEC) is a unique 10-digit number, which distinguishes an individual or a company from other individuals and companies located in all across India, when all are engaged in making imports to India, or exports from India, or in making commercial dealings and monetary transactions with foreign people or companies pertaining to the concerned economic fields. Thus, this IEC is absolutely essential to obtain for making dealings and transactions with foreign individuals and entities at any point of time. This very significant number code granted to pertinent persons or entities, is valid for the whole life. Every country has a distinct IEC Code to identify its traders, facilitate trading activities, and secure the international business and trade.Who Requires this IEC?
In order to export something from India, or import something to India, a company or firm compulsorily requires an IEC. Therefore, all companies engaged in any of the field of the sectors of business and commerce, professions, manufacturing, and services inevitably require an IEC, when they desire to conduct foreign dealings and transactions. Again, as per the latest ruling of the Reserve Bank of India (RBI), this IEC is also recommended to be acquired by all individuals, professionals, traders, freelancers, who are associated with making commercial dealings and financial transactions with foreign individuals and companies through PayPal, or other means.Who Grants this IEC?
This mandatory importer exporter code is granted by the Director General of Foreign Trade (DGFT), who works punctiliously and responsibly under the Ministry of Commerce and Industry, the Central Government of India. To support this DGFT, there are many regional offices of the DGFT in all across India.Where to Get the IEC Application Form From?
The IEC Application Form is also known as the Aayaat Niryaat Form-ANF2A. This form can easily be obtained from the Office of the Website of the DGFT (www.dgft.gov.in/-). Again, all regional offices of the DGFT, offer this application form to people and companies established in their respective jurisdictional area.
For a working individual or professional who is involved in making monetary dealings and transactions through PayPal, etc., with foreign people or companies, the main requirements for making an IEC application are the following:
To acquiring elegant IEC Number and certificate, the well completed application form is to be submitted (in person or by post) to the concerned regional authority of the DGFT, together will all documents mentioned above. Today, brisk and lavish online facilities are also available with www.dgft.gov.in/-. The eligibility conditions and all provisions, regulations, and recommendations for filing the IEC application, are given in the Foreign Trade (Regulation) Act, 1993, of the Ministry of Commerce and Industry, the Government of India. While filling in the form, skip the Section C, which is relevant to those people of companies who already have an IEC Number. On receipt of the application form the related office of the DGFT, you will be given a File Number, which will be very useful for knowing the current status of the filed application on the www.dgft.gov.in/-.Time-taken in Obtaining IEC
After submitting the flawlessly completed IEC Application Form to the concerned regional authority of the DGFT, or filing the online application with the www.dgft.gov.in/-, applicants are to get the IEC Certificate and Number within one to two weeks, through the registered post to their respective address.