Introduction of IEC online registration in India

An individual who is starting or planning to do operation and business in import and export, the documents needed for IEC registration is mandatory to register the business.

The reason for getting registered as IEC that is a unique 10 digit code, which is given by DGFT licence certificate is to streamline and manage the foreign trade operation in India.  The IEC is granted by the Directorate General of Foreign Trade Ministry of Commerce and Industries. This import and export code is compulsory for all business people who want to start and operate import and export business.

Reserve Bank of India has come out with a rule that all business and operations who are planning to start an import and export enterprise, the traders are obliged to get the licence for all their business transactions. Also for all entrepreneurs, who are interested to venture into import and export businesses, getting the licence, exposes them to all government schemes without the licence, no individual can expand their business, that is the import and export, getting the IEC code is made mandatory for them.

As the business scenario is getting competitive, it has become a must for the enterprises to grow and expand their presence globally by trading abroad.  All operations have to compete with other operations, so that they have to be sustained in the market.  New innovation and new ideas and out of box thinking gives and edge as the emergence of e-business has evolved, you are forced to expand globally as trading inside in our country is no longer competitive.

The benefit of getting the licence IEC is that the company can trade abroad with any hitches.  This is a one-time procedure as there is no need of any renewals in getting the IEC licence, this can be used by the company all through its working years.

ADVANTAGES OF ONLINE REGISTRATION OF IEC IN INDIA

The main advantages of registration create an exposure for the business or enterprises to global reach and the enterprises can reach the international market.  If you are planning to start the e-business using the licence, you can create a brand value in the international market.

With the help of IEC registration, the export promotion council, DGFT and customs gives you the freedom of enjoying several benefits provided by them.

The main benefit is that once you have registered IEC online in India, there is no need for any procedures that has to be followed to support the authenticity of the enterprise.  With the help of IEC registration, the export promotion council, DGFT and customs gives you the freedom of enjoying several benefits provided by them.  Another main benefit is that there is no return filing for registration of IEC code online. If there is any export transaction, DGFT will not stress to make any issue of filing of the returns. 

There is no complicated procedure for getting the import and export code number, it is like they do not stress on showing the documents of import and export. Applying and getting the IEC number is very easy procedure and it very simple, which takes about 0-15 days after the application, has been submitted.

After submitting and getting the IEC application, it is valid till eternity and there is no need for any kind of renewal process.  You can simply get the licence and enjoy the advantages.

After getting the IEC code granted by DGFT, this import and export code is done online and once it is granted, you can show it as an identity code number at the time of clearing the shipments.  This IEC is a government authorized number.