Table of Contents
Is IEC mandatory after GST?
According to the latest circular issued by the government, IEC is not mandatory for all traders who are registered under GST. In all such cases, the PAN of the trader shall be construed as new IEC code for the purpose of import and export.
How can I import without IEC code?
Ministries and the Departments of Central Government or State Government and Notified Charitable Institutions can import without IEC. Persons who are importing or exporting goods for their personal use that is not connected with the trading or manufacturing, commercial use or agriculture.
How do I get an importer exemption code?
Import Export Code or IE Code is required for every person or firm or company or entity engaged in export business in India. IE Code is provided by the Director General of Foreign Trade (DGFT) as required under the Foreign Trade Policy. No person is allowed to export or import goods without obtaining IE Code.
How can I get individual IEC code?
Procedure to apply for IEC Number The application needs to be made in the Aayaat Niryaat Form 2A format to DGFT. You can submit an online application at DGFT website – http://dgft.gov.in. Photograph, PAN Card and Passport should be submitted in gif format. Bank Certificate should be submitted in PDF format.
Who grants IEC number?
Directorate General of Foreign Trade
IEC is issued in electronic form (e-IEC) by Directorate General of Foreign Trade (DGFT) which is under Ministry of Commerce, Government of India.
What is the IEC code for not registered under GST?
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.
What is the import export code after GST?
Import Export Code after GST is required by a person for exporting or importing goods. As of now, PAN have adirect link with IEC as it is a PAN based 10 digit code. It is issued by the Directorate General of Foreign Trade (DGFT), under The Foreign Trade (Development & Regulation) Act, 1992.
Who can do import export business without IEC code?
Without IEC code, no importer and exporter are authorised to do import export business. What is the change? Why IEC code not required under GST? 1. Person registered under GST 2.
What is the difference between IEC and gstin?
DGFT in its trade notice, has stated that PAN would be the IEC. As the PAN is Identifier at the Entity Level but the GSTIN would be used as Identifier at the transaction level for every Import & Export. Therefore GSTIN shall be the key Identifier.