Import Export Code (IEC) Registration Certificate in Goa

The import-export code is a registration code for import-export businesses that are registered with the Indian Customs Department and specialize in the import and export of commodities. The IE Code in Goa is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India.

To get the Import Export Code in Goa, apply to the Directorate General of Foreign Trade, along with the appropriate documents. Following application, the DGFT will issue the entity's IE Code within 15-20 working days. Once you have obtained an IE Code, it is valid for a lifetime and does not need to be renewed. The IEC Registration in Goa is valid till the date the business exists.

Once issued, the IE Code Registration can be used by the entity indefinitely and does not require renewal or filing like GST and PF registrations. As a result, it is suggested that most firms that import or export goods and services from India obtain an IE code. Most importers and merchants cannot import items without an IEC code, and exporters cannot profit from the DGFT Department's export scheme, among other things.

Thus, to get IEC registration in Goa, you can apply in the Aayat Niryat Form 2A format with the DGFT's regional authority. This form can only be submitted through Professional Utilities. Professional Utilities, an online portal that has assisted thousands of consumers in obtaining IE codes in Goa. Our incorporation professionals will take you through the process to get an Import-Export License in Goa quickly and affordably.

• Overseas Trading: Import Export Code provides you the facility to expand your business over foreign countries. The basic and most important thing you would need while trading overseas is the Importer Exporter Code. IEC opens your road to expansion and growth on foreign lands.
• Legalise Business Overseas: The code provides you the license to export your goods and services to any other country and to import the essentials of your business to your own country. It makes your trade across borders easy and legal.
• Online Service: Now obtaining IEC can be done at the ease of sitting home. If you provide accurate and complete documents, then you can receive it at your home. No need to visit government offices.
• Export/Import Subsidies: The government offers benefits such as export subsidies and excise tax concessions for imports. If the import is completed within the specified time period, certain tax reliefs may apply. For exports, subsidies are available on export taxes. These benefits are only available to those enrolled with the IEC.
• Necessity at Customs: The importer's IEC Code must be declared to Customs, and the Bill of Lading must reflect this. All bills of lading for cargo destined for or trans-shipped through Indian ports must include the Indian consignee's IEC Code.
• Facilitates Electronic Fund Transfer (EFT): EFT (Electronic Fund Transfer) is a service that allows exporters to submit their license fee via the Internet instead of visiting a bank. This aims to make electronic payments more convenient. Only electronically filed applications are accepted.

However, it is typically suggested for every individual or business that plans to engage in either the export or import of goods or both, to obtain an ICE license. Thus, there are various situations where IEC registration is mandatory. These are:

• 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