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    Formalities of Registration and Export Documentation

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    Ayush Garg
    An Importer-Exporter Code (IEC) number is required to start an export business in India. To obtain an IEC number, a business must be established as a firm with ownership structure and infrastructure in place. There are different modes of export operations a firm can choose, including merchant exporter, manufacturer exporter, and agents. The IEC number represents registration with the Directorate General of Foreign Trade and allows firms to access export benefits. It has no expiry and changes to the business must be reported. The application process involves submitting documents online or in-person at regional offices.

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    Formalities of Registration and Export Documentation

    Uploaded by

    Ayush Garg
    139 views10 pages
    An Importer-Exporter Code (IEC) number is required to start an export business in India. To obtain an IEC number, a business must be established as a firm with ownership structure and infrastructure in place. There are different modes of export operations a firm can choose, including merchant exporter, manufacturer exporter, and agents. The IEC number represents registration with the Directorate General of Foreign Trade and allows firms to access export benefits. It has no expiry and changes to the business must be reported. The application process involves submitting documents online or in-person at regional offices.

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    An Importer-Exporter Code (IEC) number is required to start an export business in India. To obtain an IEC number, a business must be established as a firm with ownership structure and infrastructure in place. There are different modes of export operations a firm can choose, including merchant exporter, manufacturer exporter, and agents. The IEC number represents registration with the Directorate General of Foreign Trade and allows firms to access export benefits. It has no expiry and changes to the business must be reported. The application process involves submitting documents online or in-person at regional offices.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    139 views10 pages

    Formalities of Registration and Export Documentation

    Uploaded by

    Ayush Garg
    An Importer-Exporter Code (IEC) number is required to start an export business in India. To obtain an IEC number, a business must be established as a firm with ownership structure and infrastructure in place. There are different modes of export operations a firm can choose, including merchant exporter, manufacturer exporter, and agents. The IEC number represents registration with the Directorate General of Foreign Trade and allows firms to access export benefits. It has no expiry and changes to the business must be reported. The application process involves submitting documents online or in-person at regional offices.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 10

    Nature of Export Firm

    Business Firms can start export business once it has been allotted an Importer- Exporter Code Number (IEC) by the Regional Authorities of the Director General of Foreign Trade IEC code is a pre-condition for export of goods and services A business firm has to be established and IEC number has to be obtained in the name of the firm

    Establishing a Business Firm


    Selection of the name of the firm Approval of the name Selection of ownership organization Deciding location of the firm Developing trade name and logo Creating the necessary infrastructure Applying for Permanent Account number ( PAN) of income tax Opening current account with the bank

    Choosing appropriate mode of operations


    Merchant Exporter buying the goods from the market or from a manufacturer and then selling to foreign buyers Manufacturer Exporter manufacturing the goods yourself for export Sales Agent / Commission Agent/ Indenting Agent - acting on behalf of seller and charging commission

    Choosing appropriate mode of operations


    Buying Agent acting on behalf of the buyer and charging commission Service Provider providing service from India to another country

    Nature of IEC Code


    The IEC Code is a pre-condition for exports from India It represents registration of the company with DGFT trade control authority There is no period of expiry of IEC Code The registration does not imply an export obligation fulfillment The IEC holder has to report any changes in the business firm to the regional licensing authority The IEC number allocated to head office is also applicable for branch offices

    Frequently asked information on IEC


    What is IEC? IMPORTER EXPORTER CODE ( in short IEC ) is a ten digit number granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export

    Frequently asked information on IEC


    Where to get an IEC from? IEC can be obtained from any of the Zonal and Regional offices of Director General of Foreign Trade depending on area/region where the individual/company is located

    Frequently asked information on IEC


    Legal Provisions As per Foreign Trade (Development and Regulation) Act 1992 Importer-Exporter Code Number No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorized by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General

    Frequently asked information on IEC


    Need/Use of IEC IEC forms the primary document for recognition by Government of India as an Exporter/Importer. On the basis of IEC, companies can obtain various benefits on their exports/imports from DGFT, Customs, Export Promotion Council etc

    Frequently asked information on IEC


    Application procedure An application has to be submitted online at dgft web site http://dgft.gov.in duly filled in along with documents as per the Para 2.9 of Handbook of Procedures of Vol I 2009-14 and fees In order to get a fresh IEC , Exporter required to visit dgft web site at http://dgft.gov.in

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