Import Export Code Registration in Bhilai - Documents, Fees, and process

Import Export Code in Bhilai is a key business identification number mandatory for import in India and export from India. Bhilai is an important industrial city and the Education hub of central India and Without IEC code registration, you cannot import or export goods in Bhilai. IEC is issued by the Directorate General of Foreign Trade (DGFT) to ease Foreign trade in India.

It is very significant for import-export code registration in Bhilai, which is important and mandatory if undertaking any business involving the import and export of products and services supplied in the state. If you do not have any import and export codes, you cannot clear your goods from the port, whether it is a shipping port, an airport, or another port.

To get the Import Export Code in Bhilai, apply to the Directorate General of Foreign Trade with the necessary documentation. After the application, the DGFT will issue the entity's IE Code within 15-20 business days. Once you have an IE Code, it is valid for a lifetime and does not require renewal. The IEC Registration in Bhilai is valid until the business exists.

Thus, once issued, the IE Code Registration is valid forever and does not require renewal or filing like GST. Therefore, most businesses importing or exporting goods and services from India must get an IE code. Most importers and merchants can only import goods with an IEC code, and exporters are not eligible for the DGFT Department's export scheme, among other benefits. Importers' IE codes are required by banks when transferring or receiving money abroad, and they must be quoted while clearing customs and sending goods.

Read on to learn more about Importer exporter code, its benefits and the process of obtaining an IEC Code.

IEC Certificate [Sample]

• The IEC code facilitates overseas trade and legalizes import and export business. It makes your trade across borders easy and legal.
• If you are a food business operator, you need an IEC code for FSSAI Registration.
• Import-export code allows your product to reach the global market, which results in massive business expansion.
• Obtaining an IEC Code Opens your door to the online international marketplace like Alibaba and Amazon.
• An exporter can claim a refund on taxes imposed while exporting goods.
• You can register an import/export code just by providing essential documents like a PAN card, Address proof, Bank details, etc.
• There is no need to fulfil any compliances like annual filings or return fillings. It is a hassle-free process.
• The entire registration process is online. There is no need to go anywhere to obtain an IEC.

• When an importer has to clear his shipments from the customs, then an Import Export code is required by the customs authorities.
• The IEC code is required by the banks when the money is sent abroad through banks by the importer.
• The Import Export license is required by the customs port when the shipment has to be sent by the exporter.
• The IEC code is required by the banks when the money is received in foreign currency directly into the exporter’s bank account.

Hence, it’s clear that every individual who wants to extend their company internationally must engage in export-import deals. The registration process has been simplified and made available online to simplify completion and compliance with required procedures. While applying for and receiving an IEC number can qualify an individual or organization for a range of government programs, failing to obtain one can result in large fines and penalties in Goa. However, it is always important to get advice from reputable experts with extensive professional experience in the subject, and you may start with us .