What is the benefits of IEC certificate?
What is the benefits of IEC certificate?
IEC code has huge benefit for importers as well as exporters. The registered business entities would be able to avail benefits in form of subsidies or otherwise declared by the Customs, Export Promotion Council or other authorities. After filing LUT under GST, the exporters can make exports without payment of taxes.
Do we need to renew IEC certificate every year?
Renewal of the IEC code is mandatory as per Notification No. 58 dated 12th Feb 2021. Renewal/ Update is needed to be done every year, from April to June. Non-renewal will have an impact of de-activating the IEC.
What is the fee for IEC?
Rs 500
The government charges only Rs 500 for the application of import and export. You can make IEC on your own by going at DGFT website by paying the Rs 500 application fee.
What is IEC certification?
Electrical and electronic devices and systems often comprise hundreds of components and parts. Established by the International Electrotechnical Commission (IEC) in 1980, IECQ is a global certification and approval scheme for electronic components, associated materials, assemblies and processes.
What is IEC code and why is it important?
Any business that wishes to commence its import or export business in India will require an Import Export Code (IEC). The Director General of Foreign Trade issues the Import Export Code, and it is essentially a 10-digit code that is valid for the lifetime of the business.
How do I register with Rcmc?
How to apply for RCMC Certificate | FIEO RCMC Registration Process – Step by Step Guide
- Step 1: Visit the FIEO (Federation of Indian Export Organisations) Website.
- Step 2: Application Login.
- Step 5: RCMC Application Form (Page- 2/ 2)
- Step 7: Upload the Documents.
- Step 9: GST Details.
What is the validity of IEC?
lifetime
The Import Export Code is a ten-digit number that is issued by the Director-General of Foreign Trade, Ministry of Commerce. Once the IEC application is submitted, it is granted for a lifetime. Thus, unlike most licenses, the IEC number does not expire and there is no need for renewal.
What happens if IEC is not renewed?
Consequences for not applying for renewal / updating details If the IEC license is not updated within the prescribed time, the same shall be deactivated. An IEC so de-activated, may be activated again on successful updation.
How can I apply for IEC?
Steps for IEC Registration Process:
- Step 1: Go to the DGFT Website.
- Step 2: Then You need to Go on Services tab.
- Step 3: Enter your PAN number (A Person/if any Company PAN Card)
- Step 4: Enter the your details (As Mentioned on PAN Card)
- Step 5: Enter your mobile number to get (OTP) verification process.
How do I check my IEC status?
Go to the ICEGATE portal, navigate to the Services tab and choose the appropriate user type. From the list of available services provided, click on the DGFT Services option. Click on the IEC Based option to check the status of a license against an IEC.