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What if I import something without an 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.
When there is no requirement for IEC during imports in India?
Import Export Code (IEC) isn’t required to be taken in case the goods exported or imported is for personal purposes and isn’t used for any commercial purpose. Export/ Import done by the Government of India Departments and Ministries, Notified Charitable institutions need not require getting Import Export Code.
What happens if IEC is not renewed?
Consequences of Non-Renewal of Import Export Code If you continue to run an import export business without timely renewal, your IEC code will be deactivated by DGFT. It may result in unnecessary hustle as the IEC code is required during customs, shipping and international trade.
Can I get IEC without GST registration?
IEC Code for Person not registered under GST For persons who are not required to register under GST, the PAN number shall work as a IEC code. Further, for all new applicants who are not required to register under GST, the application shall be made to DGFT and applicant’s PAN will be authorised as IEC.
Is IEC renewal mandatory?
Renewal of the IEC code is mandatory as per Notification No. 58 dated 12th Feb 2021. Renewal/ Update is needed to be done every year, from April to June. Non-renewal will have an impact of de-activating the IEC.
Can IEC be applied without GST?
What is the fee for IEC code?
IEC Code Number Application Fee Rs 250.00 (Expert TIP : Pay via EFT (Electronic Fund Transfer ), and submit IEC Online Application form, If you wish to receive IEC Number instantly) The physical application containing required documents should reach DGFT RLA concerned within 15 days of its online submission.