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Can I import 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.
Is IEC code mandatory?
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.
Can I use pan instead of IEC?
Now PAN can be used as Importer Exporter Code with the introduction of GST: DGFT. New Delhi, June 14 (KNN) In a move that would improve ease of doing business in the country, Commerce Ministry has allowed using PAN as Importer Exporter Code (IEC) with the introduction of Goods & Services Tax (GST).
How does IEC code look like?
IEC (importer Exporter Code) number is a 10 digit code number given to an exporter or importer by the regional office of the Director general of Foreign Trade (DGFT), Department of Commerce, Government of India.
How can I know my IEC code using PAN number?
The facility to check status of Import Export Code(IEC) application can be accessed from DGFT website using Online Application → IEC → Know your IEC Status or directly from http://164.100.128.145:8100/IecStatusReport/. PAN Number and first three letters of Firm Name can be entered to check the status.
Who are exempted from taking IEC numbers?
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.
How do I link IEC code to GST?
Link your IEC
- Register on DGFT Website – Valid Email and Mobile Number Required.
- Login to DGFT Website.
- Click on Link IEC button displayed on the homepage.
- Enter your IEC by authenticating through Aadhaar based OTP or Digital Signature.
Can the same IEC number be used for import and export?
The same IEC can be used for import and export both. Quite a lot of people have the wrong idea that separate IEC codes are required for Import and export, but this is not so. There is only one registration for import and export and the same IEC number can be used while importing as well as exporting.
Is import and export code registration necessary in India?
In India, Import Export Code registration is necessary to execute international transactions. Quite a bit of confusion prevails about the applicability of Import and Export Code – Are there any post-registration compliance, how is an IEC number is allotted, etc.
Is the IEC code mandatory for Indian traders?
The IEC is not mandatory for all Indian traders who are registered under GST according to the latest circular issued by the government. Under such circumstances, the PAN of the trader shall be construed as the new IEC code for the import and export purposes.
What is the meaning of IEC code?
IEC code means Import Export Code. As per the Foreign Trade Policy (FTP) in India, every importer and exporter is required to get IEC code to start Import export from India. Without IEC code, no importer and exporter are authorised to do import export business.