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Import export license is about the import export code for the business trade which includes both import and export throughout the world. Import export code is a unique code issued by the Director-General of Foreign Trade (DGFT). This code helps in clearing the customs, shipments process, transaction from foreign banks without return filing.
It helps to increase the profit maximization of your business worldwide. The major import and exports includes the minerals fuels including oil, electronic equipment, electronic machinery, iron and steel, plastic, organic chemicals, gems, precious metals, cotton, glass, milk products, natural rubber, food items, garments, sugar, tea, tobacco, spices etc. it is mandatory to obtain license for the trade.
Registration for Import / Export License helps to increase the trade globally. The business can be done throughout the world with the standardized certification. The certified license holders are eligible to import and export business.
No need for renewal for Import / Export License. The export import code will be provided after the registration; the code is for lifetime transaction.
The process of import and export becomes very simple with the certified license. No exports and imports can be done without the license. No need of return filing and compliance hence maintaining business will be easy.
Aadhar / Voter ID / Driving licence / PAN / Passport ( In case of forigen national ) of the applicant and Document in relation to the proof of identity.
The Address proof of the applicant , Proof of the registered place of business (Ownership documents/ rent or lease agreement).
Any bill in relation to electricity / bank statement in relation to business.
The PAN card of the respective applicant must be enclosed.
No objection certificate by the owner / landlord must be enclosed.
A copy of the canceled cheque of your current bank account.
Our esteemed professional team would guide you with other requirements based on the nature of business.
IEC is an import export code mandatory for starting any business involving import or export in India.
No , return filing for the import and export license is not mandatory.
No renewal for the Import export code is for the lifetime.
For the people doing business under registration of GST it’s not mandatory.
No, with a valid import export code license you cannot import but exceptions are available for certain products.For further queries contact our tax team.
If you have any further queries, get our experts’ opinion. For free consultation Contact our Nsight to resolve all your queries.