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Can I import goods without IEC code?
An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted.
Who exempted from IEC code?
IEC No: Exempted Categories Ministries/Departments of the Central or State Government. Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture. Persons importing/exporting goods from/to Nepal provided the CIF value of a single consignment does not exceed Indian Rs.
Is GST mandatory for IEC code?
According to the latest circular issued by the government, IEC is not mandatory for all traders who are registered under GST. Export/ Import done by the Government of India Departments and Ministries, Notified Charitable institutions need not require getting Import Export Code.
Do I need export license in India?
For the export of any goods classified as ‘restricted goods’ in this ITC-HS list, an Export License is required. In the case of prohibited goods, an Export License is not given, while restricted goods can be exported by businesses granted an Export License.
How can I generate IEC code?
Steps for IEC Registration Process:
- Step 1: Go to the DGFT Website.
- Step 2: Then You need to Go on Services tab.
- Step 3: Enter your PAN number (A Person/if any Company PAN Card)
- Step 4: Enter the your details (As Mentioned on PAN Card)
- Step 5: Enter your mobile number to get (OTP) verification process.
Is IEC compulsory?
IEC is mandatory only for business and commercial purpose. There is no need for IEC to import or export goods for personal use. Hence one can import or export goods without any registration for personal use.
How to import products from China to India?
To import any product from china you need to find the best seller in china. After finding the best seller, you need to find a freight forwarding agent. The freight forwarder will help you to bring your product to India. Freight forwarders give you the air/sea freight charges to bring your product to India.
What is importer exporter code and how to get it?
Importer Exporter Code is also the necessity, while importing or exporting goods from China to India or vice versa. This code consists of a 10 digit code, which has issued by Director General of Foreign Trade, Government of India or Ministry of Commerce to Indian firms or companies.
Is importing from China a good idea?
Importing from China has proven a successful tactic of global sourcing for many businesses. Products made in China such as shoes, clothing, electronics, furniture, home furnishings and many more are popular worldwide. However, it is not an easy task, especially for the newbies.
What is the customs fee while importing from China?
Customs fee while importing from China would completely depend on the type of product you are importing. In some products you do not have to pay ant customs fee and in some restricted product you need to pay custom fee as per the law. This is the second option if you want to import product without having a company name registered.