From recent years, an import and export business is lucrative and it is estimated to continue so as long as civilization survives. The import and export system of India is governed by the Foreign Trade Act of 1992 and India’s Export Import (EXIM) Policy.
All the goods are free to import and export, except the products regulated by the EXIM policy or any other law presently in force. Import export licensing with local licensing authority is a first requirement for the import and export of goods. The society will not allow for clearance of goods unless the importer has received an Import Export Code (IEC) from the regional licensing authority.
Import Export License is required when business is dealing with any product that is not freely importable. A typical import export business license would have two copies:
First copy known as “the foreign exchange control copy” is used for opening the credit call and effectual remittance to a seller abroad.
Second copy known as “the customer copy” is used to present to customs authority for the clearance of goods. If you would not have this second copy, the import or export would be regarded as unauthorized and you would be more liable for penalty and confiscation of good.
In India, import export license is called an IEC (Importer Exporter Code) Code. It is a unique, 10-digit code issued by the Indian Government to registered companies of India. Director General of Foreign Trade (DGFT), part of the Ministry of Commerce is responsible for providing Import Export Code in Delhi and in other parts of India.
The legal provisions, eligibility criterion and other requirements or conditions for application of IEC Code is described under the Foreign Trade (Regulation) Rules, 1993 stated by the Ministry of Commerce.
The first and the basic requirement before you get into the business of import and export is acquiring an IE Code. In the scenarios where the business is related to import and export of technology and the related services, IEC is not required in all the circumstances. The specific technologies and services, which require the Import Export Code, are the ones, which are restricted by the international trade such as ammunition, nuclear weapons, etc.
IE Code is not necessary under the following scenarios:
1. Exporting or importing personal goods that are not connected to manufacturing, agriculture or trade verticals.
2. Exporting and importing of goods by the department and ministries of the Government and also the charitable trusts.
LexOracle is the perfect destination for you if you are looking forward to get the Import export license in Delhi. We make sure that you won’t have to get into the hassles for obtaining the IE code or Import Export Code for your business.
1) Copy of Partnership deed
2) Copy of PAN Card of each and every Partner
1. Memorandum of Association (MoA) and Articles of Association (AoA).
2. Copy of PAN Card of each and every Director
3. Resolution of board for the same application (Don’t know how to do this? Don’t worry, We’ll guide you)
Note: Missing any of the documents? Don’t worry; we’ll help you get them as well!
Step1:- Receive free expert counseling on IEC Registration
Step2:- Pay 50% of the payment
Step3:- Submit the required documents self attested. Application process will start within 24 hours.
Step4:- Pay rest of the 50% at the time of execution & Final submission of documents
Click on apply now and get it done right away!!
|Packages Starting from||INR 4,499/-[ All inclusive ]|
LexOracle All-Inclusive economic packages for Import Export License starts from JUST INR 4,499/-. It will take only 3* days to complete the entire registration procedure along with having relevant and necessary copies.
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Prices are inclusive of Taxes.
*Time period quoted is tentative and approximate
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