Updated on March 09, 2024 09:32:36 AM
An Import Export Code or IEC code in Varanasi is a unique 10-digit code required for importing and exporting goods in India. An IEC code is mandatory while clearing customs or making foreign transactions. It is issued by the Directorate General of Foreign Trade(DGFT) to ease foreign trade in India.
Varanasi or Banaras is a buzzing hub for exports of hand looms, agricultural and processed food products which makes it a prime location for a profitable exports business.
When you are just starting an import-export business in Varanasi, you don’t want your goods to get stuck at ports by missing any important documentary or border compliance. An IEC code is one of the mandatory documents for doing any import-export-related activities. Read on to learn everything about import-export code registration.
IEC Certificate [Sample]
Import Export Code or IEC is a unique 10-digit alphanumeric code which is mandatory for any type of commercial import and export activities. You cannot proceed with any foreign trade activities without IEC code registration.Import Export Code or IEC is a unique 10-digit alphanumeric code which is mandatory for any type of commercial import and export activities. You cannot proceed with any foreign trade activities without IEC code registration.
Following documents are required for IEC code registration in Varanasi:
Register your import and export business with Professional Utilities to get your IEC Certificate . You get the free consultations and quick service at lowest Price with us.
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Any Proprietorship firm, LLP, Company, Trust, LUF or Individual engaged in any of the following foreign trade activities is eligible for obtaining an IEC Code :
You can register for the Importer Exporter code offline as well as online. The online registration process is effortless, and you don’t need to go anywhere. The process is carried out in 5 steps :
The Directorate General of Foreign Trade(DGFT) is an online government portal where you can register for an import-export license. Your first step is to register on this portal.
The second step is the application phase, where all your documents are arranged and prepared for application. Refer to the documents required for better understanding.
An importer/exporter is required to file an online application in ANF 2A(i) and submit the required documents for verification. You also need to pay the government fees to complete the application process.
Once your application is submitted, it is sent to DGFT for verification. In case there is wrong or incomplete information, Your license will be canceled. So, make sure you provide the correct information.
Your IEC code will be issued after the approval by DGFT. In the case of the online application, you will get an e-IEC. Once approved by the competent authority, you will be notified through email or SMS that your e-EIC is available on the DGFT website.
| IEC Registration in Varanasi | Fees |
|---|---|
| Aayaat Niryaat Form 2A | NIL |
| Filing at DGFT | NIL |
| Government Fees | ₹500 |
| Professional Fees | ₹999 |
| Total Price : ₹1,499 only | |
Note: The aforementioned Fees is exclusive of GST.
While an IEC code allows you to operate an import-export business in Varanasi, It comes with some additional benefits. Let’s take a look at how obtaining an IEC code will help your import export business :
Legalize Overseas Trade - The IEC code facilitates overseas trade and legalizes your import and export business. It makes your trade across borders easy and legal.
Global Business Expansion - Import-export code allows your product to reach the global market, which results in huge business expansion.
No Compliances - Unlike other licences, Import Export License doesn’t require any compliances like annual filing or return filings.
Import/Export Subsidies - An exporter can claim a refund on taxes imposed while exporting goods. IEC holders also avail several benefits under the Foreign Trade Policy.
Easy Registration Process - You can get an import/export code registered by providing some basic documents like a PAN card, Address proof, Bank details, etc. You don’t need to stay in the queue as the entire registration process is online.
The Validity of an IEC code is One year . Unlike other government licenses, The Import Export Code was valid for a lifetime. However, after the amendments in Foreign Trade Policy on 12th February 2021, the import-export code has now to be renewed every year.
This amendment made the renewal of Import Export Code details mandatory for every IEC and e-EIC holder. Even if there are no updates in IEC, the same has to be confirmed online on the DGFT portal. Failing to do so may result in the deactivation of your Import Export code.
It takes a lot of time and effort to understand the process and upload the right documents. There is a high chance of rejection of the application at each step of document uploading. There are different classes of Digital Signature certificates (DSC) that must be uploaded.
We at Professional Utilities understand completely. That’s why we come forward to help you avoid the hassle and get your Import Export Code registered at the minimum price guaranteed so that you can concentrate on running your business and leave the legal formalities to us.
You can apply for the IEC certificate in just three simple steps with us :
Step 1:
Get in touch via call or contact form
Step 2:
Provide necessary documents
Step 3:
Get your IEC registered in 2 working days
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
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1 year. Earlier, the Import Export code came with a lifetime validity but according to the new norms of Foreign Trade, Now It is mandatory for every IEC code holder to update their IEC every year.during April- June period.
No, there is no need to file a return for IEC code. You need it while importing/Exporting goods. There are no after registration compliances attached with IE code registration.
IEC is not a tax registration. However certain customs duties may be levied depending on the type of product to be imported or exported.
IEC code is not required in the following cases:
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